Delivery Hero shares fall as company flags potential EU antitrust fine

:Delivery Hero shares fell 11 percent in morning trading on Monday, a day after the German online food-takeaway company said it faces fines of more than 400 million euros ($433 million) for violating antitrust laws.

The potential fine would be imposed for an “alleged anti-competitive agreement involving the allocation of domestic markets, the exchange of confidential commercial information and a non-takeover agreement,” the company said in a statement on Sunday evening.

Delivery Hero has announced its cooperation with the European Commission, as it did during unannounced inspections in July 2022 and November 2023.

It will also significantly increase the corresponding reserve, which was previously accumulated at €186 million, it said.

Analysts at Jefferies said in a note that the biggest challenge is not the size of the fine or the company’s ability to pay it, but rather “the pattern of events it creates.”

(1 dollar = 0.9240 euros)