FRANKFURT (dpa-AFX) - Delivery Hero's share price plummeted towards its record low from February on Monday. Because alleged violations of EU antitrust law are likely to cost the food delivery service significantly more money than previously thought, the share price plummeted by 15.8 percent on the Tradegate trading platform. A price of 17.70 euros was paid there in the morning. The February low was 14.92 euros. In mid-May, Delivery Hero's share price was still above 32 euros, but it soon halved from this level.

The fine could exceed 400 million euros, Delivery Hero announced on Sunday. As the company had previously only set aside 186 million euros for the conflict, a significant increase in the corresponding provision was announced.

The problem from an investor's point of view is not so much the size of the potential fine, as Delivery Hero has sufficient cash, but rather the resulting pattern, wrote Giles Thorne from investment firm Jefferies in an initial assessment. The expert refers to regulatory developments in the recent past. At least it is positive that the management has directly disclosed the potential fine and announced an increase in the provision./tih/mis/zb