Tiger Brokers

Prosus Unit iFood Files Antitrust Complaint Against Meituan's Keeta in Brazil

MT Newswires Live
Sep 01

Prosus' Brazilian unit iFood filed an antitrust complaint with Brazil's antitrust regulator against Meituan's (HKG:3690) Keeta, accusing the platform of stifling competition through "predatory pricing practices," according to a statement from iFood on Monday.

The complaint alleges Keeta operates at a loss per order in Brazil, subsidizing its operations with capital from its Chinese parent to gain market share and eliminate rivals.

The petition seeks three measures from the Administrative Council for Economic Defense or CADE, including opening a formal administrative process, imposing a preventive measure to immediately cease below-cost pricing, and granting periodic access to the platform's cost and pricing data.

Meituan and Keeta did not immediately respond to MT Newswires' requests for comment.

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