Food delivery firms were hit by a second wave of antitrust raids by European Union competition watchdogs hunting for evidence of illegal pacts to share sensitive commercial information and avoid poaching their rival’s staff.
The European Commission said Tuesday that the investigations into the unidentified companies were an extension of similar raids carried out in 2022, which focused on the carving up of markets in two member states.
Berlin-based Delivery Hero SE and its Glovo unit, which were part of last year’s raids, didn’t respond to calls from Bloomberg seeking comment. Shares in the company fell 1.8% at 11:53 a.m., in Frankfurt while the Germany’s benchmark index advanced.
The antitrust scrutiny follows a tough time for the delivery industry, with pandemic-era lockdowns ending and takeout orders declining sharply as more people return to restaurants. Antitrust watchdogs are ramping up their surprise inspections of firms after the Covid crisis brought the so-called dawn raids to a standstill.
See: Delivery Hero Raided by EU Over Antitrust Concerns
The latest move follows similar evidence-gathering swoops by EU regulators on premises of construction chemicals firms last month. Such raids are a preliminary step and the EU may start formal proceedings if evidence shows the companies broke the bloc’s antitrust rules. They’re also not an indication of guilt.
(Updates with details on raids throughout)
