The UK’s biggest fund manager is expected to shun Deliveroo’s upcoming stock market float, along with a growing number of other investors, due to concerns about the food delivery company’s treatment of workers – which one described as a “ticking bomb”. The investment firm also raised concerns about Deliveroo’s dual share structure, which gives a controlling vote to the company’s founder, Will Shu, for three years. On Thursday, 27 investors discussed the float and worker rights issues in a meeting organised by ShareAction, a group that campaigns on investment issues. Deliveroo has set aside £112m to cover the possible costs of drivers taking legal action around the world. A Deliveroo spokesperson said: “This proud British business looks forward to listing on the London Stock Exchange.

Source: The Guardian March 25, 2021 11:19 UTC