(Alliance News) - The EU on Monday fined Berlin-based online food order company Delivery Hero SE and its Spanish subsidiary Glovo EUR329 million for violating antitrust rules.

EU regulators concluded that Delivery Hero used its stake in Glovo between 2018 and 2022 to limit competition by exchanging sensitive information, agreeing not to poach each other's employees and to divide among themselves national markets for food delivery.

Delivery Hero shares were 0.9% lower at EUR24.15 each on Monday afternoon in Frankfurt, giving it a market capitalisation of EUR7.21 billion.

source: AFP

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