Glovoapp Bulgaria - Short Company profile

The European Commission has launched an investigation into two major food delivery companies over suspicions of a cartel. The targets are the very popular in Bulgaria platform for online orders and deliveries "Glovo" (Glovo, Spanish) and the German "Delivery Hero" (Delivery Hero). They are suspected of illegal coordination of prices, etc., which is detrimental to market competition. In fact, the companies are connected. Delivery Hero became a minority shareholder in Glovo in 2018, and before the summer of 2022 took control of the Spanish company. From the press release of the EC, it is understood that the investigation is about possible violations committed before the Germans took over Glovo in 2022. The aim is to establish that the two companies then agreed to share markets and exchanged "sensitive commercial information". - for prices, commercial strategies, capacity, costs, product characteristics," the European Commission states. "Delivery Hero" and "Glovo" were already subject to surprise inspections in July 2022 and November 2023. Now the next, more serious phase - an in-depth investigation into possible practices violating EU antitrust rules.If the suspicions are confirmed, the EC will impose fines.