Shares down almost 12% in flat market (Il Sole 24 Ore Radiocor) - Berlin, 08 Jul - Shares in German food delivery group Delivery Hero slumped in opening trade after the company said at the weekend that it may face a European Union fine of over 400 million euros for alleged anti-competitive agreement to share national markets, exchanges of commercially sensitive information and no-poach agreements.

At 0738 GMT, Delivery Hero shares were down 11.64% at 18.57 euros while the MDAX was 0.15% lower.

Delivery Hero said that as a result of the possible fine, it decided to significantly increase a corresponding provision already built in the amount of 186 million euros following unannounced inspections carried out by the European Commission in July 2022 and November 2023.

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(RADIOCOR) 08-07-24 10:06:29 (0171) 5 NNNN