Delivery Hero CEO says 'no intention' to buy Deliveroo

The boss of Delivery Hero said on Thursday that the German takeaway food delivery company has no interest in buying London-listed rival Deliveroo.

Deliveroo shares surged earlier in the week after it emerged that Delivery Hero had taken a 5.09% stake in Deliveroo, snapping up just under 87.4m shares and sparking speculation about a possible takeover.

However, Delivery Hero co-founder and chief executive Niklas Oestberg said on Twitter earlier: "Tremendous respect for Will Shu and Deliveroo but at this point in time we have no intention or wish to acquire the company. Simply a happy shareholder."

At 1055 BST, Deliveroo shares were 5% higher at 358p.