Combined Just Eat and Takeaway.com shares start trading
The combined shares of Just Eat and Takeaway.com began trading this morning, despite a competition watchdog probe into the merger.
Just Eat’s shares were suspended this morning and the merged company Just Eat Takeaway.com began trading on the London Stock Exchange under the ticker Jet.
However, a full integration of the two takeaway platforms is waiting for final approval from the Competition and Markets Authority.
Just Eat Takeaway.com chief executive Jitse Groen said the listing marks the “beginning of a new era” for the company.
“The Just Eat Takeaway.com merger provides the scale that is a necessary condition to remain competitive in a globalised environment,” he said.
“Our ambitions, however, reach much further. It is our intent to lead the sector, which not only means delivering the absolute best product for both consumers and restaurants, but also a dedication to our social responsibility.
“Following the CMA’s discretionary decision to conduct an investigation into the merger, we will work quickly to respond to their questions. As said, we are confident merger clearance will be obtained.”
The CMA probe is investigating whether Takeaway would have reentered the UK market without the current deal in place.
Takeaway removed itself from the loss-making UK market in 2016 after hemorrhaging £768,000 that year alone in the face of stiff competition from companies such as Uber Eats and Deliveroo.
The Netherlands-based company beat rival firm Prosus to seal the deal with Just Eat last month following a bidding war.