Amazon offers loan to Deliveroo amid UK probe - Bloomberg

(Reuters) - E-commerce giant Amazon.com Inc has offered a loan to food-delivery group Deliveroo as a UK probe into the start-up's last funding round unveiled threat of a cash crunch, Bloomberg reported on Tuesday. While the size of the loan is unclear, Deliveroo has significant funds to continue operating, the report said, citing people familiar with the matter.

Reuters January 15, 2020 02:06:52 IST
Amazon offers loan to Deliveroo amid UK probe - Bloomberg

Amazon offers loan to Deliveroo amid UK probe  Bloomberg

(Reuters) - E-commerce giant Amazon.com Inc has offered a loan to food-delivery group Deliveroo as a UK probe into the start-up's last funding round unveiled threat of a cash crunch, Bloomberg reported on Tuesday.

While the size of the loan is unclear, Deliveroo has significant funds to continue operating, the report said, citing people familiar with the matter.

Deliveroo declined to comment and Amazon did not immediately respond to a Reuters' request for comment.

Britain's Competition and Markets Authority (CMA) said on Dec. 27 it was launching an in-depth investigation into Amazon's purchase of stake in Deliveroo after the companies failed to assuage its initial concerns.

(Reporting by Ambhini Aishwarya in Bengaluru; Editing by Amy Caren Daniel)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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