Delivery Hero slumps on potential antitrust fine
Investing.com - Delivery Hero (ETR:DHER) stock slumped Monday after the German online food takeaway firm acknowledged it may face a hefty fine due to antitrust violations.
At 05:45 ET (09:45 GMT), Delivery Hero stock traded 4% lower at €20.18, 20% lower year-to-date, and down almost 50% over the last year.
The potential fine, which could exceed €400 million, would be for "alleged anti-competitive agreement to share national markets, exchanges of commercially sensitive information and no-poach agreements", the company said in a statement published on Sunday evening.
Delivery Hero said it would cooperate with the European Commission, and will also significantly increase its corresponding provision, which it had previously built at €186 million.
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