The European Union has fined two popular food delivery services, Delivery Hero and Glovo, a total of €329 million for allegedly forming a “cartel” that restricted competition in the takeaway market. The companies, which operate in several European countries, were accused of colluding to fix prices and limit supply, leading to higher costs for consumers.
The EU’s antitrust authority found that Delivery Hero and Glovo engaged in anti-competitive behavior by agreeing not to poach each other’s customers or to set minimum prices below a certain level. This allowed the companies to maintain their market share and suppress competition, ultimately harming consumers.
The fine is seen as a significant blow to the two companies, with €329 million being one of the largest antitrust fines ever imposed on food delivery services in Europe. The decision serves as a warning to other companies operating in the sector to ensure they are complying with EU competition laws.
Source: https://www.ft.com/content/b0f37773-e68b-4c31-a7d5-b6ce8b9542d8