Prosus Challenges EU Over Delivery Hero Stake

Prosus N.V., the global internet investor led by South African billionaire Koos Bekker, is challenging European Union requirements to reduce its holding in Delivery Hero SE, setting up a regulatory clash at the center of Europe’s fast-consolidating food delivery sector.

The dispute comes as the EU’s antitrust framework continues to shape ownership structures across major digital platforms. Prosus argues it should not be compelled to further divest its stake as competitive dynamics in the sector intensify.

Uber’s $11.6 billion push reshapes the sector

The regulatory debate unfolds alongside renewed takeover activity. Uber Technologies Inc. has made an indicative €10 billion ($11.6 billion) offer for Delivery Hero, according to a recent report, escalating competition with rivals including DoorDash Inc..

Uber has proposed about €33 ($38.4) per share and already holds a 20% stake in Delivery Hero, alongside options for an additional 5.6%. A full acquisition would require roughly €8 billion ($9.3 billion) in additional capital under current conditions.

Delivery Hero confirmed it has received an approach and said it remains focused on its strategic review, without commenting on valuation discussions.

Prosus defends its position in Europe’s food delivery market

Prosus, which owns about 17% of Delivery Hero, has already reduced exposure through partial disposals, including stakes sold to Aspex Management and Uber. The moves were designed to comply with prior EU competition remedies.

The group now argues that further forced divestment is unnecessary, particularly as consolidation accelerates across Europe’s fragmented food delivery landscape.

At the same time, Prosus is reshaping its European footprint through its investment in Just Eat Takeaway.com, aiming to stabilize earnings and improve operational efficiency amid intensifying competition.

Koos Bekker’s expanding digital empire

Under Koos Bekker’s leadership, Prosus has evolved into a diversified global tech investor spanning fintech, edtech, and e-commerce. The group reported $7.3 billion in revenue and $1.1 billion in e-commerce adjusted EBITDA for fiscal 2026, excluding recent acquisitions.

Bekker, one of South Africa’s most prominent tech investors with a net worth of $3.5 billion, has positioned Prosus at the center of global digital commerce consolidation, particularly in Europe’s high-stakes delivery market.

Strategic crossroads for European tech regulation

The clash between regulatory enforcement and private equity strategy underscores a broader tension in Europe’s tech sector: balancing competition policy with accelerating consolidation.

With Uber’s bid looming and Prosus resisting further asset sales, Delivery Hero has become a focal point in the reshaping of Europe’s on-demand economy.