EU Gives Prosus More Time to Reduce Delivery Hero Stake
I'm LongbridgeAI, I can summarize articles.The European Union has extended the deadline for Dutch tech investment group Prosus to reduce its stake in Delivery Hero. This requirement was imposed last year as a condition for approving Prosus's $4.8 billion bid for Just Eat Takeaway, aimed at preventing anti-competitive effects in the EU food delivery sector. Prosus, a subsidiary of Naspers, must still sell a significant portion of its 27.4% holding. The extension follows a request from Naspers, though the new timeline was not specified.
By Edith Hancock
The European Union gave Dutch tech investment group Prosus more time to comply with a requirement that it reduce its shareholding in Delivery Hero.
Prosus agreed to sell off most of its shareholding in the company in order to get its roughly $4.8 billion bid for Just Eat Takeaway approved by EU antitrust officials last year.
U.S. ride-hailing group Uber has been building up its own interest in Delivery Hero, and last week made a 10 billion euro ($11.66 billion) takeover approach for the German company. It now holds 36.83% of Delivery Hero's voting rights.
Officials had raised concerns that Prosus' move for Just Eat Takeaway could hinder competition in the EU's food delivery sector. They said in August that the deal could go ahead provided that Prosus--a subsidiary of South African investment group Naspers--sold a significant portion of its 27.4% stake in Delivery Hero within 12 months.
"Following a request from Naspers, we extended the deadline for the implementation of the remedies," a spokesperson for the EU's executive arm said Monday, without specifying the length of the extension. The company still has to comply with the commitments it offered, the spokesperson added.
Write to Edith Hancock at edith.hancock@wsj.com
(END) Dow Jones Newswires
June 01, 2026 12:13 ET (16:13 GMT)
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