UNDER-FIRE takeaway giant Just Eat tumbled to the bottom of the FTSE 100 leaderboard after Amazon grabbed a slice of the UK food delivery market by backing its arch rival.
Amazon snapped up an undisclosed stake in Deliveroo after Just Eat’s rival raised $575m (£452m) from investors. The tech titan is throwing its weight behind Deliveroo as it attempts to grab market share from Just Eat. The cash raised will be used to invest in its tech team in the UK and reach new customers, Deliveroo said.
Last year it unveiled plans to accelerate UK expansion, taking on Just Eat by letting restaurants use their own delivery staff rather than the company’s network.
Just Eat shares slumped to a four-month low…
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