Takeaway.com urges Delivery Hero not to vote on Just Eat deal

Dutch online food delivery company Takeaway.com said on Monday that shareholder Delivery Hero must abstain from voting on its £4.9bn acquisition of Just Eat due to a conflict of interest.

"Delivery Hero, with Prosus as its largest shareholder, has a conflict of interest on all matters related to the combination," it said.

"Delivery Hero’s own market position as well as Prosus' position as the largest shareholder in Delivery Hero in itself gives rise to a conflict of interest."

Prosus - which was spun off from South African conglomerate Naspers - announced last week that it had made an unsolicited cash offer for Just Eat. This was rejected on the basis that it "significantly undervalues" the London-listed company.

Prosus is Delivery Hero's biggest shareholder, with a 22.3% stake.