Prosus, which is majority owned by South Africa's Naspers, announced the deal in February, banking on its artificial intelligence capability to boost Just Eat Takeaway, Europe's biggest meal delivery company. Reuters Dutch technology investor Prosus gained EU antitrust approval on Monday for its 4.1-billion-euro ($4.76 billion) bid for Just Eat Takeaway, after agreeing to sell down its stake in Delivery Hero. Amsterdam-headquartered Prosus, which is majority owned by South Africa's Naspers, announced the deal in February, banking on its artificial intelligence capability to boost Just Eat Takeaway, Europe's biggest meal delivery company. The European Commission, which acts as the EU competition enforcer, said Naspers offered to significantly reduce its 27.4% stake in Delivery Hero to below a specified very low percentage within 12 months, confirming a Reuters story. Naspers also pledged not to exercise the voting rights with its remaining limited stake in Delivery Hero and also not to increase its stake beyond the specified maximum level. It will not recommend or propose any person to Delivery Hero's management and supervisory boards. \"Today's binding commitments preserve both competition and consumer choice when ordering food at home,\" EU antitrust chief Teresa Ribera said in a statement. \"This decision also sends a clear warning to an industry with recent antitrust issues: we won't tolerate any anti-competitive behaviour that may harm consumers,\" she said. Delivery Hero and its Spanish unit Glovo were fined 329 million euros by the EU antitrust watchdog in June for taking part in a cartel which included an agreement to divide up markets among themselves and not to poach each other's employees. The deal would make Prosus the world's fourth-largest food delivery company after Meituan, DoorDash and Uber, according to ING analysts.

Prosus wins conditional EU antitrust nod for Just Eat Takeaway deal

Prosus, majority-owned by South African investment firm Naspers, has received conditional approval from the European Commission for its €4.1 billion bid to acquire Just Eat Takeaway, Europe's largest meal delivery company. As part of the agreement, Naspers committed to reducing its stake in Delivery Hero from 27.4% to below a very low threshold within 12 months, renouncing voting rights and any future stake increases, and refraining from recommending individuals to Delivery Hero's management or supervisory boards. The EU antitrust chief, Teresa Ribera, stated that the decision safeguards competition and consumer choice, and serves as a warning against anti-competitive behavior in the food delivery sector. The deal would make Prosus the fourth-largest food delivery company globally, behind Meituan, DoorDash, and Uber. Delivery Hero and its Spanish subsidiary Glovo were previously fined €329 million by the EU for participating in a market-sharing cartel.