The UK Okays Amazon's 16% Stake in Deliveroo

By Sheridan Fifer

Fifteen months ago, the UK competition regulator opened an investigation into Amazon's planned acquisition of a 16% stake in Deliveroo, a food delivery app. The goal of the investigation was to decide whether the stake would discourage Amazon from investing in food delivery independently of Deliveroo. Now, the UK's Competition and Markets Authority has given the deal a thumbs up, with the caveat that any attempt to take a larger stake in the business could prompt a new investigation.

The win for the online retailer comes as Amazon faces increased scrutiny over its market power in the United States. US lawmakers recently questioned Amazon CEO Jeff Bezos very closely on his company's practices. 

Now it’s finally concluded that Amazon’s 16% stake does not cross the competitive risk threshold. So Bezos can crack out the bubbly — assuming he knows what the heck Deliveroo is, of course.

Read the full story at TechCrunch.