Just Eat Takeaway weighs Grubhub sale as pandemic boost fades

Takeaway said orders had fallen 1% in the first quarter and it now expected "mid-single-digit growth" in Gross Transaction Value (GTV) this year, instead of the "mid-teens" predicted in January

Investors reappraise valuations for loss-making technology companies and stocks seen as big beneficiaries of the pandemic.

Europe's biggest meal delivery company Just Eat Takeaway is looking at selling US arm Grubhub less than a year after buying it, under pressure from investors to revive its shares amid stiff competition and a fading pandemic boost.

In an abrupt turnaround, CEO Jitse Groen said Takeaway had hired banks to explore a possible sale of Grubhub - alongside potential partnership options it was already exploring - and that buyers had expressed more than casual interest.