The German food delivery company Delivery Hero is being investigated for competition violations by the EU Commission. The company, which includes Foodora and has Swedish CEO Niklas Östberg, announced earlier in July that it risks being fined 400 million euros and therefore flagged a provision of the same amount.
The share is now falling 2.4 percent on the Frankfurt Stock Exchange and has declined by over 20 percent since the turn of the year. In addition to Delivery Hero, competitor Glovo is also being investigated.
