Rival takes slice of Deliveroo

SHARES in takeaway app giant Deliveroo jumped yesterday after a German rival gobbled up a more than five per cent slice of the firm.

Delivery Hero’s stake was valued at about £284million based on Friday’s closing price.

Founded in 2011, it operates in about 50 countries, with particular strength in Asia, with riders delivergetting ing groceries, pharmaceutical products and electronics alongside restaurant food. It does not operate in Britain – Deliveroo’s largest market – after selling its hungryhouse business to Just Eat in 2016.

Deliveroo’s share price closed 4.5 per cent up at 339.8p – its highest since its stock market flop in March. It reports first-half results tomorrow.