Shares of Delivery Hero declined by 11% in early trading on Monday after the German online food delivery company announced it might incur a fine exceeding 400 million euros ($433 million) due to potential antitrust violations.

The fine pertains to "alleged anti-competitive agreements to share national markets, exchanges of commercially sensitive information, and no-poach agreements," according to a statement released by the German online food takeaway firm on Sunday evening.

Delivery Hero confirmed its intention to cooperate with the European Commission, referencing its past compliance during surprise inspections conducted in July 2022 and November 2023.

Additionally, the company plans to significantly increase its financial provision for this matter, which had previously been set at 186 million euros.

Analysts at Jefferies noted that while the financial burden of the fine and the company's ability to pay are not the primary concerns, the significant challenge lies in the implications of the "fact pattern" created by these allegations.