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The Carrefour Sa (EPA:CA) share price has risen by 11.3% over the past month and it’s currently trading at 14.29. For investors considering whether to buy, hol...
(Bloomberg Opinion) -- The European Union is going to hold Amazon.com Inc.’s feet just a little bit closer to the fire. While this could make Jeff Bezos’s life trickier, it’s unlikely to be a catastrophe for the e-commerce giant and its founder. Still, the case can’t be ignored.The EU’s antitrust regulator plans to file a formal complaint against Amazon over the way it treats third-party sellers, Dow Jones reported on Thursday. The bloc’s probe started almost a year ago and focuses on Amazon’s marketplace operations. That’s where third-party retailers — from corner stores to multinationals — can flog their wares directly on the Seattle company’s website. It’s different from Amazon’s other approach, where it just buys a product from a supplier and sells it.The problem is that running the marketplace means Amazon can learn which products are popular and where, even when these aren’t goods that it’s supplying directly. It would be similar if Walmart Inc. had instant sales data from all of its brick-and-mortar rivals. Amazon has been accused of using this information to create Amazon-branded goods that then compete with the equivalent products made by marketplace sellers.Amazon’s data gives it a potential advantage even if sellers try to opt out of its ecosystem. Take fashion, for example, where operating as a retailer on the company’s marketplace is tough. You only get a prominent placement on the website if your product has received a certain number of reviews, usually about 15. Because fashion labels change their product lineups several times a year, it takes a lot of effort and expense to reach that number each time. That’s why many just don’t bother selling on Amazon at all.Yet Amazon will still know what kind of fashion products its customers want, from their searches and purchasing habits. So when it can’t get enough supply of a particular item — say if the retailer has run out of stock, or has simply opted not to sell on Amazon — it can manufacture its own equivalent, in this case a t-shirt or jeans. Amazon might also deem that the existing product is not at a compelling enough price for its customers. Most of Amazon’s 200 or so own-brand product lines are in fashion.Bezos’s company argues that what it does is no different from real-world retail giants such as Walmart, Tesco Plc and Carrefour SA making their own branded products. The difference may be in the power that Amazon now wields through its market data, and that third-party sellers are so dependent on its marketplace that its use of those data appears anticompetitive. Margrethe Vestager, the EU’s technology and antitrust chief, appears to believe she can demonstrate that.Any fine is unlikely to be crippling. Bloomberg Intelligence analyst Aitor Ortiz estimates it would be less than $1 billion, about 0.3% of Amazon’s expected revenue this year. But Vestager might attempt to change the company’s behavior. She’s done it before with Alphabet Inc. Now Bezos is up. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
* Earnings season accelerates Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (firstname.lastname@example.org), Joice Alves (email@example.com) and Julien Ponthus (firstname.lastname@example.org) in London and Stefano Rebaudo (email@example.com) in Milan. As expected the oil and gas sector is the worst performing sector at the moment with a decline of over 4.4% as U.S. crude futures are back in negative territory.
* Earnings season accelerates Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (firstname.lastname@example.org), Joice Alves (email@example.com) and Julien Ponthus (firstname.lastname@example.org) in London and Stefano Rebaudo (email@example.com) in Milan. Hopes to get back to normal quickly and for the economy to suffer from a limited impact of the coronavirus outbreak are pretty weak this morning, after the shocking crash of U.S. crude oil futures.
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...
Uber Eats said orders for grocery delivery on its platform jumped 59% across Europe in March compared with February as countries locked down to fight the coronavirus, helping offset some of the impact of shuttered restaurants on demand. Uber Eats, which competes with the likes of Deliveroo, Takeway.com and Just Eat in online meal delivery, already offered alcohol and selected products from convenience stores. European general manager Stephane Ficaja said Uber Eats' store sign-up rate had doubled in March as convenience outlets looked for new channels to serve customers advised to stay at home to slow the spread of the virus.
The lockdown of millions of people at home across the globe due to the coronavirus should have been the perfect recipe for success for the burgeoning online meal delivery market. While many restaurants have switched to offering takeaway, giving the online services a bump in members signing up, some of the world's biggest food chains using the apps, such as McDonald's and Wagamama, have closed in the United Kingdom for the time being. Data from SimilarWeb, which tracks downloads and use of smartphone apps and websites across key European markets, highlights the scale of the slowdown across Europe as the pandemic spread and governments ordered people to stay at home.
(Bloomberg Opinion) -- Here's one more issue to add to the bonfire of tensions with China brought on by the coronavirus pandemic. The country is reportedly reopening its wet markets, the fresh produce stalls associated with Covid-19's early spread in Wuhan.It's understandable that countries now in the grip of the first wave of infection might be outraged. Many blame wet markets for starting the outbreak in the first place. Opening them again, at a moment when thousands are dying overseas, seems emblematic of Beijing's increasingly chauvinistic approach to world affairs.Animals in wet markets are penned and slaughtered or sold live right next to stalls selling fruit and vegetables. Conditions, as my colleague Adam Minter has written, are often less than hygienic.Places where a range of common and exotic animals mix together while bodily fluids flow freely may seem a fertile breeding ground for the virulent novel diseases that cross the species barrier to humans and occasionally become pandemics.At the same time, let’s put the outrage on pause. Wet markets are increasingly losing ground to supermarkets in China. If they're showing resilience as suppliers of fresh goods, it's precisely because consumers regard them as a healthier and more sustainable alternative.That perception isn't inaccurate. The prevalence of food-borne microbial illness in developing East Asia suggests that far from being cesspits of disease, wet markets do a good job of providing households with clean, fresh produce. And while the origins of coronavirus remain obscure, they may have at least as much to do with more worldwide activities such as intensive farming as practices specific to Asia.The attraction of wet markets isn't so different from that of farmers’ markets in Western countries. In contrast to a supermarket model where multiple layers of retailers, wholesalers and logistics companies stand in between the consumer and the grower, wet markets offer a personal and direct connection between shopper, stallholder and farmer.Consumers know the food is fresh because there's generally little refrigeration, so everything must be sold on the day. If in doubt, they can ask the stallholder what's in season and which produce is best at the moment. If they think one market looks unsanitary, they can choose to shop at another.That helps explain how wet markets have managed to hold their own in spite of the growth of store-based retail in recent years. Supermarkets now account for about half of all grocery spending in China, up from about 36% in 1995, according to Euromonitor International. Add in convenience stores and the like and so-called modern grocery has about 68% of China's retail wallet, giving wet markets less than a third.Still, that store-based spending is overwhelmingly concentrated in packaged, rather than fresh produce. Foreign retailers that once hoped to dominate China's staple goods sector such as Carrefour SA and Metro AG have struggled and sold out of local ventures — but wet markets are still going strong.The evidence suggests this consumer loyalty isn’t misplaced. One 2015 study for the World Health Organization compared the number of years of life lost per 100,000 people due to food-borne sickness, disability and death. The region encompassing the wet market zone from China and South Korea down through most of Southeast Asia has the best record for microbial infections outside the Americas, Europe and the rich countries of the Pacific Rim.(1)What about Covid-19 itself, though? There's good evidence that the virus has genetic characteristics from another pathogen found in pangolins, an exotic mammal sometimes sold in Chinese markets. And it circulated extensively around one of Wuhan's seafood and meat markets last December, although the earliest infections don't seem to have been connected to the site.Only a small minority of wet markets sell such exotica, though, so you can close down the wild animal trade without shutting the places where most Chinese people get their daily sustenance. And don't overlook the possibility that a key ingredient in Covid-19's genetic cocktail isn’t wild game, but domesticated livestock. The high-density conditions on farms are far more conducive to cooking up novel diseases, as we've written — and even pangolins are farmed in China these days.To the extent that the mix of the raw and the cooked in Asia's wet markets is a health problem, it can easily be mitigated by better building design (such as separating meat, vegetable and livestock areas and keeping markets fully enclosed), plus the sort of mandated cleaning regulations found in places like Singapore, Hong Kong and South Korea.There's plenty to complain about in the way that China downplayed and hushed up the initial outbreak until it was all but inevitable it would become a worldwide pandemic. Closing all wet markets, though, isn't the solution. (1) Indeed, the data suggest the problem with Asia's appetite for "warm meat" isn't that fresh-slaughtered produce is less healthy than the chilled meat from an abattoir, but that local preferences for undercooked meat and fish lead to unusually high burdens of tapeworms, flukes and other parasitic worms. That's not something different retail formats can solve.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The head of French supermarket company Leclerc said on Wednesday the coronavirus crisis was disrupting the supplies of some basic staples in its stores but that there were no shortages to fear. Lecler said there was disruption to supplies of basic staples such as pasta, rice, or toilet paper in some stores as consumers were stocking up in areas most affected by the virus, such as eastern France or the Oise region, north of Paris.
Let's talk about the popular Carrefour SA (EPA:CA). The company's shares saw significant share price movement during...
* European stocks rally on strong PMI data * STOXX 600 hits fresh record high * UK PMI data casts doubt on BoE rate hike * Remy Cointreau drops heavily after weak Q3 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Joice Alves. Reach her on Messenger to share your thoughts on market moves: firstname.lastname@example.org SO MUCH TO LOOK FORWARD TO NEXT WEEK (1615 GMT) There's news you just can't anticipate, like a deadly virus outbreak, a drone strike threatening a major Middle East war, market moving trade tweets from U.S. President Donald Trump, a disastrous profit warning that sets an entire sector on fire, the list goes on. Big Ben may not be bonging but after more than three years of drama at 11pm and on the stroke of midnight in Brussels the UK will leave the European Union and venture into a brave new world.
* European stocks rally 1.2% on strong PMI data * STOXX 600 hits fresh record high * UK PMI data casts doubt on BoE rate hike * Remy Cointreau drops heavily after weak Q3 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Joice Alves. Reach her on Messenger to share your thoughts on market moves: email@example.com STOXX 600 TEASING UP AND DOWN THE RECORD HIGH LINE (1245 GMT) European stocks smoothly beat Wednesday's 424.94 points record this morning and have since being hovering up and down that level. The new all time high is now 425.36 points but there's little doubt the STOXX 600 could go even higher today should Wall Street, where future are trading 0.2% to 0.3% higher, open on a bullish note.
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Joice Alves. European bourses opened in positive territory driven by risk-on trades across the board with banks, miners and financial services topping the pan-European STOXX 600 index, which is up 1%. Remy Cointreau shares slid 9.7% after weak 3Q results, as demand for cognac in Hong Kong was hit by protests.
Dividend paying stocks like Carrefour SA (EPA:CA) tend to be popular with investors, and for good reason - some...
(Bloomberg Opinion) -- French supermarket operator Casino Guichard Perrachon SA has been a favorite plaything for short-selling hedge funds. So for its recovery to take two steps backward is a blow for the group and its chief executive officer, Jean-Charles Naouri.The owner of the Monoprix and Franprix chains looked as if it was gradually getting out of the woods, with Casino making a series of disposals and completing a refinancing, and its parent Rallye SA attempting to work through its 2.9 billion euros ($3.2 billion) of net debt after entering a creditor protection program last year.But things are never so straight-forward for the two companies, which are inextricably tied. (Rallye is Naouri’s investment vehicle.) Now a profit warning, together with some bondholders rejecting Rallye’s plan to repay 1.6 billion euros of debt over 10 years, throw into question Casino’s nascent recovery.The retailer on Thursday halved its forecast for the expansion in trading profit in 2019 to 5%, after fourth-quarter retail sales were worse than expected. Strikes in France during the crucial holiday shopping period shaved about 2% off of its fourth-quarter sales. It wasn’t alone. Fnac Darty SA, which sells books, music, electronics and home appliances, also said the unrest over a proposed pension overhaul hurt its revenue. But Casino shares fell as much as 13%, the most in more than a year, indicating that investors weren’t convinced the problems are confined to the disruption.While both Casino and Rallye were saddled with debt, the underlying French business has been in acceptable shape, with exposure to faster growing segments such as convenience stores. If this stability is now under threat, that is a concern, not just for Casino’s progress, but Rallye’s restructuring too.Bondholders rejecting Rallye’s plan — with the company failing to win support in four out of five euro-bond classes — is a sign the coast isn’t yet clear on that front either. But the vote isn’t binding on the Paris court that’s set to rule on the plan by the end of March.However, the profit warning doesn’t make the situation any easier. First, Rallye’s main asset is its 52% holding in Casino, so a weaker share price might make creditors, particularly the banks, feel less comfortable with the plan. Second, the revised profit guidance makes it even more difficult for Casino to generate cash to pay the dividends to Rallye that are necessary for the group to reduce its own borrowings.Casino has said that it will not make a distribution this year. After that it can make a payment, but its ability to do so will be capped by the terms of its recent refinancing. There could be special dividends from a sale of the Leader Price discount chain to Aldi, which is being discussed, or offloading assets in Latin America, but returning to regular pay-outs looks even more challenging.Of course the share price decline may have another effect: Making a takeover of Casino more likely. Rivals in France’s highly competitive supermarket industry, such as Carrefour SA, have a duty to a look to see if they can make hay from the retailer’s misery. Casino also has an online partnership with Amazon.com Inc. It’s also worth watching what Czech billionaire Daniel Kretinsky and his partner Patrik Tkac have up their sleeves after they acquired a 4.6% stake in Casino last year.But until any suitor shows their hand, Casino investors and bondholders face the prospect of a long, drawn out grind toward better times. As for short sellers, they get another spin of the wheel.\--With assistance from Marcus Ashworth.To contact the author of this story: Andrea Felsted at firstname.lastname@example.orgTo contact the editor responsible for this story: Melissa Pozsgay at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- In the heart of New Delhi’s largest wholesale bazaar, merchants who normally compete with each other have united against a common enemy.“Amazon, Flipkart!” one merchant after another shouts into a microphone from a small stage in Sadar Bazaar’s central traffic circle. Some 50 other shopkeepers gathered around shout back in unison: “Go back! Go back!”The sit-in, which created more chaos than usual among the rickshaws, motorbikes and ox-carts plying the market road, was one of as many as 700 protests against Amazon.com Inc. and Walmart Inc. -- owner of local e-commerce leader Flipkart -- that organizers say took place at bazaars across India on a recent Wednesday.Predatory PricingIndia’s shopkeepers are mobilizing against the global e-commerce giants, alleging they are engaged in predatory pricing in violation of new rules meant to protect local businesses. At stake is the future of retailing in a country with 1.3 billion consumers, where Walmart and Amazon have sunk billions of dollars trying the crack the market and capture its growth potential.“Amazon and Flipkart are a second version of the East India company,” said Praveen Khandelwal, national secretary of the Confederation of All India Traders at the Delhi protest, referring to the British trading house whose arrival in India kicked off nearly 200 years of colonial rule. “The motive of Amazon and Flipkart is not to do business, but to monopolize and control.”India’s government in October announced an investigation into the allegations of predatory pricing. Amazon and Walmart said in statements to Bloomberg News last week that their operations comply with Indian laws, and that they act only as a third-party marketplace.The conflict comes amid a broader global backlash against the breakneck expansion of tech firms -- from protests by taxi drivers against an Uber-clone in Jakarta, to couriers for a Softbank-backed delivery startup creating a bonfire of their backpacks in Bogota in protest of low wages and poor benefits.Worsening PainIndia’s slowing economy -- it expanded at the slowest pace in more than six years last quarter -- and the accompanying consumption slowdown has worsened the pain of these neighborhood stores.Representing about 70 million small merchants who collectively control almost 90% of India’s retail trade, India’s shopkeepers union has shown itself to be a strong political force. The traders are an important part of the voter base of Prime Minister Narendra Modi’s Bharatiya Janata Party.“For a government, especially a government of the BJP, which has the support of small businessmen, it may not be prudent or politically advisable to totally ignore such demands,” said Sandeep Shastri, a political scientist at Jain University in Bangalore. “They would have to be seen taking some steps at least.”The union’s power is a significant reason the government has placed such onerous restrictions on foreign retailers -- including a minimum $100 million investment and strict local sourcing rules. Because of the hurdles, the likes of Walmart and Carrefour SA have all but given up on opening their eponymous stores in the country.The shopkeepers won a key victory against the foreign e-commerce players last year when the government tightened regulations on how the platforms are allowed to sell goods. The rules, aimed at creating a level playing field on pricing, forced Amazon and Flipkart to pull thousands of items from their virtual shelves and restructure large parts of their local operations.The changes, coming after Walmart announced its acquisition of Flipkart, threw the foreign companies into chaos and prompted analysts to question their India investments. With Amazon shut out of China and Walmart’s e-commerce performance in the U.S. decidedly mixed, both companies have settled on India as key to growth. Amazon CEO Jeff Bezos has pledged to spend $5.5 billion to win India, while Walmart’s $16 billion Flipkart deal was the retailer’s biggest ever.Now the shopkeepers are alleging Amazon and Flipkart are circumventing the rules with predatory pricing and deep discounting. They are demanding the government shut down the companies’ online marketplaces until they are in compliance.Amazon said its sellers have complete discretion on what price to sell their products. Flipkart said it provides sellers with data to help determine what product offerings will sell best at what price, but business decisions are ultimately the sellers’ to make.The flash point for the latest escalation was Diwali, a Hindu festival that’s occasion for a gift-giving bonanza akin to Christmas in Western countries. This year’s festival in October came amid a slowdown in consumer spending that’s hit everyone from carmakers to shampoo sellers. But while the shopkeepers union said its members saw as much as a 60% drop in Diwali sales, Amazon and Flipkart managed to report record revenue from the six-day festival.The shopkeepers union argued that the online holiday deals must be in violation of the new rules, prompting Commerce Minister Piyush Goyal to announce an investigation.“E-commerce companies have no right to offer discounts or adopt predatory prices,” Goyal said in October. “Selling products cheaper and resulting the retail sector to incur losses is not allowed.” Another government official said policy makers are looking at setting up a dedicated e-commerce regulator.A spokesperson for the commerce and industry ministry didn’t respond to an email seeking comment.Vinod Kumar, a 35-year-old shopkeeper selling women’s cosmetics in the Delhi bazaar, is looking for relief. Standing by his small stall, he picks up a bottle of a rosewater-based hair product. He sells it for 40 rupees (56 cents), but says customers can get it from Amazon or Flipkart for 30 rupees, with delivery right to their home.Heat, Crowds“If everything is available online, why would anyone come here to face the heat and the crowds?” he says. “My business is shrinking by the day.”Kumar says if the situation continues he may go out of business, as many other shops already have.Overall data show sales at traditional mom-and-pop shops are still growing in India. Though these stores have seen a decline in their share of total retail sales since 2014 as e-commerce and organized retail chains grab market share, the consumer market is expanding at such a pace that absolute spending with mom-and-pop shops increased nearly 60%, according to consultancy Technopak Advisors. That pace of absolute growth is projected to slow slightly to 50% over the next five years.That may be cold comfort to Muhammad Yusuf. The 72-year-old, who runs a jewelry shop at the Delhi bazaar, says he’s unable to match the prices online, has cut his staff from six employees to two and is in danger of not being able to pay rent.Yusuf is conspicuous in the e-commerce protest, however, in that he’s sporting a fleece jacket bearing the Amazon logo. Asked why he’s wearing it, he shrugs and says he needed something to keep him warm and found it in a clothing stall nearby. He bought it because it was cheap.(Updates with India’s GDP growth data in the eighth paragraph.)\--With assistance from Shruti Srivastava.To contact the reporter on this story: Ari Altstedter in Mumbai at firstname.lastname@example.orgTo contact the editors responsible for this story: Rachel Chang at email@example.com, Jeff Sutherland, Bhuma ShrivastavaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.A Spanish startup best known for delivering takeaways is betting on building a network of convenience stores to expand its business -- just as the food delivery sector eyes a wave of consolidation.Glovo, a Barcelona-based web platform used mainly for ordering food from restaurants, is rolling-out so-called dark-supermarkets -- delivery-only convenience stores -- from Tbilisi to Lisbon in an attempt to tap into growing web-based demand for groceries.The company is also focusing on delivering groceries for existing supermarket chains. In May it announced a deal with Carrefour SA to handle their deliveries in under 30 minutes in four countries, and it has similar partnerships in different countries with Walmart Inc., Auchan Holding Sadir and Kaufland Stiftung & Co KG, among others.Glovo drew preliminary interest from Uber Technologies Inc. and Deliveroo, Bloomberg reported in August. The startup is in 180 cities spread across 24 countries, according to its website.But the company is increasingly marketing itself as an "app for anything" that allows users to request a rider -- as the delivery staff, who mainly ride bicycles, are known -- to buy any product. With this function, a user can send a rider to any store to pick up a product and the price is charged directly to the user’s credit card, together with a fixed service fee.Competitors are increasingly moving into delivering groceries alongside restaurant-delivery. Uber Eats has piloted delivery goods from Nestle and Unilever, and said in July that it’s in discussions with European supermarkets to roll out a grocery delivery service. Amazon.com Inc. is growing its grocery store delivery operations in several countries including Spain, one of its first markets.Germany’s Delivery Hero SE is already offering transport of consumer items such as groceries and toiletries in 12 markets and plans to raise that number in the coming months, Chief Executive Officer Niklas Oestberg said last month.Demand for online groceries in Europe’s largest economies set to grow by about 60% between 2018 and 2023, to more than $45.1 billion, according to estimates compiled by Delta Partners, a consultancy.Unlike online grocery shoppers such as U.K.’s Ocado Group Plc, which delivers weekly purchases the following day, Glovo is targeting small baskets at speed. Such deliveries are simply the latest twist in the “anything" strategy, according to co-founder and Chief Executive Officer Oscar Pierre, a wiry 26-year-old aeronautical engineer who started the company in 2015, shortly after a short stint working for airplane manufacturer Airbus SE.“The app aims to allow users to buy whatever they need from their phone", says Pierre.Glovo’s main food-delivery competitor in Latin America, Rappi, recently received an $800 million investment from two SoftBank units, the Vision Fund and the smaller, Latin America-focused Innovation Fund. Glovo is also in talks to receive an investment from SoftBank’s Vision Fund, after raising 150 million euros in a round earlier this year.To contact the reporter on this story: Rodrigo Orihuela in Madrid at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Stefan NicolaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Spanish food delivery startup Glovo has drawn preliminary interest from Uber Technologies Inc. and Deliveroo in recent months as the industry undergoes a wave of consolidation, people familiar with the matter said.Talks between the Barcelona-based company and potential partners have been on and off and may not lead to a transaction, the people said, asking not to be identified because the deliberations are private. While suitors have shown preliminary interest, Glovo isn’t actively looking for a buyer, the people said.Glovo is continuing to raise fresh funding and has also held early-stage talks with SoftBank Group Corp. about a potential investment, two of the people said. Glovo, which has markets in Europe, Latin America and Africa, may prefer to explore partnerships or deals on a region-by-region basis rather than a full sale, one of the people said.Representatives for Glovo, Uber, Deliveroo and SoftBank declined to comment.Delivery platforms have become prime takeover targets as startups battle for survival against more established incumbents and companies branch out into new services. On Monday, Just Eat Plc and Takeaway.com NV agreed to a 5 billion-pound ($6.1 billion) combination, less than six months after Takeaway.com spent about $1 billion on rival Delivery Hero SE’s German operations. Last month, Glovo struck a deal with French grocer Carrefour SA to make deliveries in France, Spain, Italy and Argentina.Square Inc. is selling its Caviar food-delivery app to DoorDash Inc. for $410 million, while Amazon.com Inc. has agreed to invest in Deliveroo.Click here to read more about the surge in delivery deals.Glovo, which markets itself as an app for anything and lets users request a range of products, was valued at about 850 million euros ($950 million) in its last fundraising round, one of the people said. The company is considering an initial public offering as soon as 2020, people familiar with the plans said in April. Investors in the firm include restaurant-owner AmRest Holdings SE, venture capital firms Lakestar and Seaya Ventures and Delivery Hero.Uber Eats, targeting an expansion into grocery delivery, has held talks with the U.K.’s second-biggest grocer, J Sainsbury Plc, people familiar with the matter said last month. The supermarket operator this month announced it was partnering with Deliveroo to bring hot pizza to homes in four British cities.To contact the reporters on this story: Giles Turner in London at firstname.lastname@example.org;Rodrigo Orihuela in Madrid at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Amy Thomson, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.