Deliveroo receives Amazon loans amidst deal probe: report
The loan offer came as the delivery giant ran the risk of capital loss.
Deliveroo was reported to have received a loan from Amazon amidst an ongoing investigation on the two tech firms’ merger deal by the competition watchdog
The loan offer came as the delivery giant ran the risk of capital loss, people familiar with the matter told Bloomberg.
Last May, Amazon injected a US$575 million (£442.2 million) investment into Deliveroo. The deal was put on hold following the concerns of the Competition and Markets Authority’s (CMA) on the nature of the possible merger.
The report noted from Deliveroo’s latest annual report that the company posted a net loss of £232m at the end of 2018, despite a 72% global sales increase.
The result of the CMA probe is expected to be released in June.
Read full report here.
