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Not strictly true. In the UK, at least, a sale of a business needs to be signed off by the Cabinet Office if it is considered strategic or a security risk [1].
by louthy 1y ago
Not strictly true. In the UK, at least, a sale of a business needs to be signed off by the Cabinet Office if it is considered strategic or a security risk [1].
Unlikely, in the case of Deliveroo, but I went through this exact process and it took about a month or so to get sign off and to be allowed to sell my own company to a foreign buyer (health tech)
There’s also monopoly and competition regulation that could stop a sale.
[1] https://www.gov.uk/guidance/national-security-and-investment-act-guidance-on-acquisitions https://www.gov.uk/guidance/national-security-and-investment...
- mytailorisrich 1y agoDoes any of this apply to Deliveroo, though? The general case is that no approval is needed in the UK to sell a company to anyone. This is a "free country". This was especially a reply to the implied suggestion that there was some sort of political approval process.
- realityking 1y agoThe EU’s competition review will likely apply due to DoorDash’s Wolt subsidiary. The criteria is outlined here: https://competition-policy.ec.europa.eu/mergers/procedures_en https://competition-policy.ec.europa.eu/mergers/procedures_e... I doubt the EU is going to block it since AFAIk they’re not competing in any country directly against each other.