South African billionaire Koos Bekker has seen about $100 million erased from his estimated net worth over the past week, as shares linked to Prosus N.V., the global internet investment group he chairs, came under pressure while the company pushed back against European Union requirements to reduce its holding in Delivery Hero SE.

According to Forbes, which tracks the wealth of the world’s richest individuals, Bekker’s fortune has slipped from about $3.5 billion at the start of the week to $3.4 billion at the time of reporting. The change reflects recent moves in the share prices of Naspers Ltd., Africa’s largest consumer internet company, and its Amsterdam-listed unit Prosus.

Bekker holds a 0.93 percent stake in Naspers, equal to 1.69 million shares, and a 0.76 percent stake in Prosus, or about 19.65 million shares. Over the past week, shares of Naspers have fallen about 2 percent, while Prosus has declined roughly 3.33 percent on the Amsterdam Stock Exchange. The movement in those holdings accounts for the change in his estimated net worth.

Koos Bekker, chairman of Naspers and Prosus.

EU pressures Prosus for stake reduction

At the center of the latest pressure is Prosus’ dispute with European regulators over its stake in Delivery Hero SE. The European Commission has required the company to reduce its holding as part of broader antitrust conditions affecting ownership concentration in the food delivery industry. Prosus has pushed back, arguing that further divestment is not justified given shifting competition in the sector and the evolving structure of online delivery markets across Europe.

The issue has come at a time of activity in the industry. Uber Technologies Inc. has reportedly tabled an indicative €10 billion ($11.6 billion) offer for Delivery Hero, intensifying competition with rivals such as DoorDash Inc. Uber has proposed €33 ($38.4) per share and already owns 20 percent of Delivery Hero, with options that could lift its stake by another 5.6 percent.

A full takeover would require roughly €8 billion ($9.3 billion) in additional funding under current estimates. Delivery Hero has confirmed receiving an approach and says it remains focused on reviewing its strategic options.

Uber has approached Delivery Hero with an offer of €33 ($38.3) per share.

Regulatory terms trigger portfolio reshaping

Prosus has gradually reduced its exposure to Delivery Hero over recent months, bringing its stake down to 17 percent from 26.3 percent earlier in the year. The reduction follows conditions set by European regulators linked to Prosus’ acquisition of Just Eat Takeaway.com NV, which required it to scale back overlapping investments in the sector.

To meet those requirements, Prosus completed a series of disposals, including a 5 percent stake sale to Aspex Management and a 4.5 percent sale to Uber. The company has since shifted attention toward integrating Just Eat Takeaway.com, with management focused on improving revenue performance and stabilizing earnings in a market where competition among major platforms remains intense across Europe.