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Just Eat N.V. (JET.L)

LSE - LSE Delayed price. Currency in GBp
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1,593.20-170.80 (-9.68%)
At close: 04:35PM BST
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    Takeaway quits Romania; shares inch up from all-time lows

    Just Eat NV, Europe's largest food delivery company, on Tuesday said it would discontinue operations in Romania, the third country it has exited this year under pressure to become profitable. "Competitive pressure, our relative scale and the overall market penetration for food delivery in Romania have been insufficient to sustain a healthy business," Takeaway said in a statement. Takeaway, which posted a loss of more than 1 billion euros in 2021, quit the Portuguese and Norwegian markets in March.

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    Takeaway shares slump another 12% to close below 2016 IPO price

    A fall in the share price of Just Eat NV accelerated in late European trading on Thursday, with the stock closing down 12% at 21.18 euros ($22.26) in Amsterdam - below the company's 2016 initial public offering price of 23 euros. Shareholders, who have seen the stock fall 50% so far in 2022, criticised the company's board for not challenging management decisions enough, including the $7.3 billion purchase of U.S. rival Grubhub in June 2021. Takeaway founder and CEO Jitse Groen repeated at the meeting he now plans to either sell or find a partner for Grubhub.