The boss of Just Eat Takeaway has been urged to stop arguing with rivals on Twitter while his company becomes vulnerable to takeover bids.
Activity investor Cat Rock Capital, which has a 4.2 per cent stake in Just Eat, accused chief executive Jitse Groen of presiding over a ‘disaster’ in communications.
Row: Activity investor Cat Rock Capital, which has a 4.2 per cent stake in Just Eat, accused chief executive Jitse Groen of presiding over a ‘disaster’ in communications
The investor claimed Just Eat was a ‘fantastic business’ but was now hugely undervalued – making it a potential takeover target.
Groen has accused competitors such as Uber of failing to pay tax and having ‘irrational business models’.
Uber boss Dara Khosrowshahi told the Dutch businessman to ‘pay a little less attention to your short term stock price and more attention to your tech and ops’.
Just Eat’s shares are down 26.7 per cent this year.
Cat Rock has urged it to sell assets to boost the stock price and look at mergers.
Cat Rock partner Alex Captain said ‘response should not happen on Twitter, it should happen on a credible forum’.
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