Amazon's Deliveroo deal in doubt after UK regulator raises serious concerns
LONDON - Amazon’s purchase of a stake in online food delivery group Deliveroo has been put in doubt by Britain’s competition regulator which said it raised “serious competition concerns” for consumers and may require an in-depth investigation.
The deal would allow Amazon to participate in the management of Deliveroo, which has grown rapidly since being founded in 2013. It now has global sales of close to 500 million pounds and operates in over 100 towns and cities across Britain.After completing a “Phase 1” probe, the Competition and Markets Authority said on Wednesday it would proceed to an in-depth investigation if Amazon and Deliveroo failed to offer legally binding proposals that addressed its concerns.
Secondly, the CMA is concerned the deal could damage competition in the emerging market for online convenience grocery delivery, where Amazon and Deliveroo have already established market-leading positions. The CMA has given the two companies five working days to present their proposals. The regulator would then have five working days to consider whether to accept their offer instead of referring the case to an in-depth probe.
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