DoorDash sees tepid Q2 for Wolt as it completes $3.5 billion takeover

FILE PHOTO: A DoorDash sign is pictured on a restaurant in the Manhattan borough of New York City, New York, U.S., December 9, 2020. REUTERS/Carlo Allegri

AMSTERDAM (Reuters) - U.S. food delivery firm DoorDash forecast a slowdown in second-quarter orders at Wolt Enterprises from the start of the year as it completed the $3.5 billion purchase of the European business in the midst of a cost-of-living crisis.

The all-share deal to buy Helsinki-based Wolt had been worth more than $8 billion when it was announced in November, but DoorDash's share price has since declined amid a sector sell-off, while the U.S. dollar has strengthened.