Retail

Amazon gets approval to buy stake in UK food delivery firm Deliveroo

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A food delivery courier places a bag of food into the back of his bicycle as he prepares to deliver an order from Deliveroo in London.

Simon Dawson | Bloomberg via Getty Images

Amazon has been given approval to buy a minority stake in U.K. food delivery start-up Deliveroo, ending a lengthy battle by the firms to convince regulators the deal would not harm competition.

In May 2019, Deliveroo announced it had raised a $575 million funding round led by Amazon. Just two months later, the U.K.’s Competition and Markets Authority put the brakes on the deal. Then, in December, the CMA launched a formal probe to examine potential anti-competitive implications.

On Tuesday, the competition watchdog…



Source cnbc.com

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