Just Eat’s Takeout Deal Tests U.K. Merger Regulator’s Tech Savvy

科技动态 BloomBerg (源链)

Pizza, Thai or Indian? You might think British takeouts have plenty of ways to serve hungry customers poring over menus from their iPhones or laptops.

They can sell direct through their own apps or websites likeand, use delivery specialists such as,and Deliveroo, or log on to a restaurant aggregator like Just Eat Plc or Hungryhouse, which provide an online service for takeouts.

But lawyers say a merger between the latter two hangs in the balance as the Competition and Markets Authority weighs concerns that the deal will cut the options for restaurateurs looking for a slice of the U.K.’s booming takeout market. Provisional findings are scheduled to be released by early September.

The probe is one of a string of examples where the regulator has intervened in rapidly changing industries that have been transformed by the internet — riling critics who say the CMA doesn’t do enough forward-looking analysis, giving it a blind spot in fast-evolving markets where new entrants can deploy high tech to obliterate incumbents almost overnight.

‘Not Good Enough’

“It’s not good enough to start with the position you see in the market place, but unfortunately that’s the way they operate,” said Tim Cowen, a lawyer at London-based Preiskel & Co. “There is an alternative, which is that you monitor what’s happening in digital markets very closely, employ people to track them, and look at forward-looking market research rather than looking at everything in the rear view mirror, because it’s out of date already.”

The London-based CMA referred Just Eat’s 200 million-pound ($257 million) acquisition of Hungryhouse for an in-depth probe in May. The regulator cited concerns that the two are close competitors because of similar services and broad geographical coverage and said at the time that a merger could lead to “worse terms” for restaurant clients.

The companies argue the deal will enable them to compete more effectively with fast-growing existing competitors and new entrants with “significantly deeper pockets.”

These rivals include established brands such as Deliveroo, as well as Amazon Restaurants, which extended its U.S. restaurant-delivery service to London a year ago, and prospective takeaway services to be offered byand Alphabet Inc.’s Google.

Takeout Niche

Still, those titans of technology aren’t direct competitors, according to the CMA.

Just Eat and Hungryhouse’s niche — that they are the only two companies that allow small restaurants to do their own deliveries — may seem trivial to customers who have an almost identical experience using the app as they do using the plethora of competitors. But restaurants pay only 14 percent commission on each order to list with Just Eat, compared with a typical rate of 30 percent if they use delivery services Deliveroo, UberEATS and Amazon, the CMA said in its decision published June 9.

“Their problem is there’s nobody else,” said Rona Bar-Isaac, a partner at Addleshaw Goddard. “If you’re a little restaurant you’d much rather be on Just Eat than giving away a chunk of your margin toor Deliveroo.”

Just Eat and Hungryhouse declined to comment, as did the CMA.

The CMA has been grappling for years with how to define markets that are changing rapidly, and regulate mergers with competitors waiting in the wings. It referred the 2015 merger of Poundland and 99p Stores for an in-depth review on fears consumers seeking a single-price retailer would only have a single option once the deal was done, as if the same shoppers wouldn’t just go to Aldi, Lidl or Iceland instead. The regulator later cleared the deal, acknowledging that the new retailer would be a fraction of a much larger market.

Web Booking

The regulator doesn’t always opt for a protracted probe in such cases. During the 2013 merger between Web Reservations and Hostelbookers.com Ltd., the Office of Fair Trading — the CMA’s forerunner — cleared the deal after acknowledging that Expedia Inc. had recently started offering hostel booking services.

But it isn’t always this clear, when companies like Amazon and Deliveroo have the power to expand exponentially. Amazon Restaurants added London to its list of U.S. cities last year, saying it provided food delivery from hundreds of restaurant branches “from family favorites to fine dining.” Deliveroo went from a handful of drivers to operating in 84 cities across 12 countries during its first three years in business.

The CMA can’t always know who is currently working on things that can provide an alternative, said Preiskel & Co.’s Cowen.

“It’s a tough gig being a regulator because sometimes you don’t know and it must be really embarrassing if they intervene too early and nobody comes in,” said Cowen. “It’s a bit of a nightmare.”

— With assistance by Paul Jarvis, Thomas Mulier, and Adam Satariano


How Stupid Does Equifax Think We Are? Answer: Real... Talk about chutzpah! Equifax--a company that compiles credit data and sells it to lenders--just exposed at least 143 million people (and probably ...
奇点 2.2 发布:精选收藏 今天早上,我发布了奇点 2.2 版本。这算是一个有里程碑意义的版本,因为它新增了一个「精选收藏」功能。这是我提供的一个独立于微博官方的一个特色功能,想借此做一点有意思的尝试。 正如字面意思,「精选收藏」是一些精选的收藏,是一个将诸多奇点用户所收藏的内容精选出来的一个内容。 如果你是奇点的老用户,...
这儿有一份最新的互联网行业薪资报告,你敢看么?... 2017已过去大半,互联网招聘市场也在悄然发生变化。与今年年初相比,一个明显的不同点是,在发出面试邀请次数上,互联网金融类企业与生活服务类企业下降了许多,这也许是两个行业不断自我规范所造成的结果。而云计算和大数据,则几乎主宰了整个第二季度的互联网高端人才市场。 我们汇总了 2017 年...
如何成为一名优秀的数据分析师? 本文将从一个数据分析师的所需要的整体知识框架和能力入手,和大家分享一个优秀的数据分析师是怎样炼成的。 主要会讲数据分析师的演变、数据分析价值体系、数据分析师必备的四大能力、七大常用思路以及实战分析案例。 近些年,互联网公司对数据分析师岗位的需求越来越多,这不是偶然。 过去十多年...
The punk rock internet – how DIY ​​rebels ​are wor... T he office planner on the wall features two reminders: “Technosocialism” and “Indienet institute”. A huge husky named Oskar lies nea...
BloomBerg责编内容来自:BloomBerg (源链) | 更多关于

本站遵循[CC BY-NC-SA 4.0]。如您有版权、意见投诉等问题,请通过eMail联系我们处理。
酷辣虫 » Just Eat’s Takeout Deal Tests U.K. Merger Regulator’s Tech Savvy

专业 x 专注 x 聚合 x 分享 CC BY-NC-SA 4.0

使用声明 | 英豪名录