Delivery Hero plunges to record low after selling stake in food delivery rival Deliveroo
Publishing timestamp: 2024-01-30 12:34:35
Summary
Delivery Hero is selling its minority stake in Deliveroo, causing shares of both companies to fall. Delivery Hero will receive less than what it initially paid for the shares. The sale is intended to allow Delivery Hero to focus on its cash allocation. Deliveroo had previously announced that its annual earnings for 2023 would exceed previous guidance.
Sentiment: NEGATIVE
Tickers: ROO-GB, DHER-DE, DHER-FF,
Keywords: breaking news: markets, breaking news: technology, delivery hero se, business news, deliveroo plc, technology, markets,
Source: https://www.cnbc.com/2024/01/30/deliveroo-roo-stock-falls-on-delivery-hero-stake-sale.html