StockMarketWire.com - Just Eat shares were suspended from trading as its $7.8bn sale to Takeaway.com was declared unconditional, but the full integration of the two companies remained on hold as the UK competition watchdog continued its probe into the merger.

The combined company Just Eat Takeaway.com began trading under the ticker 'Jet,' but the full integration of the two companies was pending approval from regulatory authorities in the UK.

The competition market authority (CMA) imposed an initial enforcement order (IEO), also known as a 'hold separate' order, requiring the Just Eat and Takeaway.com businesses to continue to be run independently and under separate management.

'The integration of the two businesses will only occur once the IEO has been lifted by the CMA or amended by way of derogation to allow this to occur,' the company said.

'Following the issuance of the order, Just Eat Chairman Mike Evans and CFO Paul Harrison, who were due to take up positions as Chairman of the supervisory board and CFO and member of the management board of Takeaway.com respectively, have notified the CMA of their intention not to take up these roles for as long as the IEO is in force,' it added.


At 8:51am:

[LON:JE.] Just Eat share price was 0p at 861p

[LON:JET] share price was +7167.5p at 7167.5p



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