Will Shu rejected speculation that Deliveroo could be a target of a merger after German rival Delivery Hero took a stake in the London-listed company.Deliveroo's founder and chief executive said the 5.1pc stake, disclosed in Monday's filing, was a "endorsement"
"We're a public company - Delivery Hero can buy shares, [the slotxo company's chief executive] Niklas Oestberg said he thinks it's a good long-term investment. We think this is an endorsement,” said Shu.When asked if the stakes could signal a future merger between the handing players, Shu said: “Mergers are hard to predict.
Mr Shu's comments came as Deliveroo released half-year results. More than double the total order value of the food delivery app. Order value increased by 131pc in the first three months of the year and 81pc in the second quarter.Revenue rose by 81 to £922 million and losses fell from £128.4 million to £104.8 million.