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© Reuters. FILE PHOTO: Delivery Hero headquarters appears in Berlin, Germany, on June 2, 2017. REUTERS / Fabrizio Bensch / Archive Photo

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LONDON (Reuters) – Germany’s Delivery Hero has acquired a 5.09% stake in Deliveroo, an online food delivery rival, and has raised the share price of the British company since it went public. of values ​​in March.

Shares of Deliveroo, which revealed its stake in a stock market warning on Monday, rose more than 6% to 345 pence. They were priced at 390 pence in their initial public offering (IPO).

Online food platforms, such as Delivery Hero, Deliveroo, Uber (NYSE 🙂 Eats and Just Eat Takeaway.com, have benefited from increased demand during pandemic closures, but some analysts question what part of ‘this business will persist as long as the restaurants reopen.

The race towards new markets and the first movements towards consolidation have given rise to several cross-shareholdings in the sector.

Founded in 2011, Delivery Hero operates in nearly 50 countries around the world, with a particular strength in Asia, where it owns the foodpanda brand.

It does not operate in the UK, Deliveroo’s largest market, after selling its Hungryhouse business to Just Eat in 2016.

However, after subsequent consolidation in Germany, it owns a 7.4% stake in Just Eat Takeaway.com.

It also owns a 37% stake in the Spanish company Glovo, which is considering its own listing in about three years.

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