Prosus NV, the Amsterdam-listed e-commerce and fintech conglomerate, has formally requested that the European Union eliminate a mandatory share sale requirement in Delivery Hero SE that was imposed as an antitrust remedy, according to regulatory filings reviewed by EU Finance News.
The divestiture obligation was originally imposed by EU competition authorities as a condition for approving Prosus’s acquisition of another delivery platform. The requirement mandated that Prosus dispose of its shareholding in Delivery Hero, a major European food delivery operator, to address competition concerns arising from the transaction.
Background to the Antitrust Condition
The divestiture requirement reflected the EU’s cautious stance toward consolidation in the fragmented European food delivery sector, where several large players have competed intensely for market share and merchant relationships. By forcing Prosus to divest its Delivery Hero stake, regulators sought to prevent excessive market concentration and maintain competitive dynamics in a sector characterized by significant regulatory scrutiny and operational challenges.
Prosus, which operates extensive operations across e-commerce, fintech, and classifieds businesses globally, has maintained various strategic shareholdings in delivery platforms as part of its broader investment portfolio. The company’s food delivery exposure has generated scrutiny from competition authorities across multiple jurisdictions concerned about potential conflicts of interest or leveraging of scale.
Strategic Rationale for Waiver Request
The company’s petition to remove the condition suggests that circumstances may have changed materially since the original approval decision. Delivery Hero’s market position, competitive dynamics within the European food delivery sector, or broader portfolio considerations at Prosus may have evolved in ways that the Dutch company believes no longer justify the mandatory divestiture.
Such waiver requests typically require demonstrating to EU authorities that the original competition concerns no longer pose material risks, or that alternative remedies have adequately addressed regulatory concerns. The European Commission will evaluate whether material changes in market conditions or Prosus’s corporate structure warrant reconsidering the requirement.
Regulatory Implications
This development reflects ongoing tension between regulators and major technology conglomerates regarding cross-border share ownership in competing or adjacent sectors. The EU’s approach to antitrust remedies in e-commerce and delivery services has become increasingly stringent as the Commission monitors whether large platform operators leverage their positions across multiple markets.
The outcome of Prosus’s request could establish precedent for how the EU treats previously imposed divestiture conditions when underlying market circumstances shift. As European regulators continue examining consolidation in digital markets, their decisions on remedial obligation modifications will signal the durability and flexibility of antitrust settlements in fast-evolving sectors where business models and competitive landscapes change rapidly.