Delivery Hero buys 5.1% stake in rival Deliveroo         

Germany-based Delivery Hero has taken a stake of almost 5.1% in online food delivery rival Deliveroo.

Germany-based Delivery Hero has taken a stake of almost 5.1% in online food delivery rival Deliveroo, driving the UK-based company's share price to its highest since listing on the stock market in March.

Shares in Deliveroo rose over 5%. "Delivery Hero is always looking for new investment opportunities," the German company said. "We strongly believe in the future potential of the delivery industry as a whole and therefore decided to purchase shares in one of the companies that is at its forefront," it said.