Its name makes it all sound so simple, but life is anything but for Just Eat. The takeaway delivery business is poised to be dumped out of the FTSE 100 on Monday only a year after it was promoted from the midcap index.
Shareholders and analysts are questioning the potentially very expensive change in strategy to move into the direct delivery business from being a digitally-led order-booking service. They are also fretting about the rampant competition from the likes of Deliveroo and Uber Eats.
And now it has a hedge fund on its back in the form of Cat Rock Capital, which is using its 2 per cent stake to hold management to account over financial goals and their own pay. What’s an investor to