Prosus Edges Closer to Dominating Europe’s Food Delivery Landscape
The global tech investment powerhouse, Prosus, is making significant strides towards solidifying its position in the European food delivery market. Its ambitious all-cash bid to acquire Just Eat Takeaway (JET) has taken another step forward, with Prosus extending the deadline for JET shareholders to accept the offer to October 1. This strategic delay is specifically timed to align with the revised schedule of the European Commission’s ongoing competition review, underscoring the deal’s profound implications for the continent’s digital economy.
# The Strategic Value of the JET Acquisition
Prosus initially announced its compelling €4.1 billion (R85 billion) offer for Just Eat Takeaway in February, a deal that received unanimous recommendation from JET’s management and board. JET operates as a vast global food delivery platform, connecting consumers with over 356,000 restaurant partners across 18 countries. Despite its impressive scale, evidenced by 879 million orders fulfilled in 2024, JET has faced persistent challenges in achieving profitability. However, the company has shown signs of financial improvement, successfully cutting its losses by €200 million (R4.2 billion) in its most recent financial year. For Prosus, a dominant player in the e-commerce and internet services sector, securing JET represents a crucial move to consolidate market share and leverage its extensive global tech investment portfolio within the competitive food delivery space. The regulatory scrutiny from the European Commission highlights the substantial market power this potential acquisition could wield across Europe.
This acquisition, once finalized, is poised to reshape the competitive dynamics of the European food delivery sector. Prosus’s continued pursuit of JET, even amid its current profitability struggles, signals a long-term vision to build an unassailable position in a rapidly expanding digital market. The outcome of the European Commission’s review will ultimately determine the pace and scope of Prosus’s potential dominance.
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