The Competition and Markets Authority (CMA) has given Amazon the greenlight to invest £460m in Deliveroo after the food delivery service warned it would go bust without the funding.
The CMA had initially feared the deal would “damage competition by discouraging Amazon from re-entering the online restaurant food market and further developing its presence within the online […] grocery delivery market”.
But Deliveroo’s executives warned the regulator that without the minority investment from the US e-commerce giant, its business would collapse. The coronavirus outbreak has dealt a heavy blow to its business model, with a significant number of Deliveroo’s partner restaurants having been forced to close since lockdown came into effect last month.
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