AMSTERDAM (Reuters). Jitse Groen CEO at Just Eat Takeaway.com stated on Sunday that Just Eat Takeaway.com’s decision not to list its shares on Nasdaq should not be taken to mean the company intends to sell Grubhub.

It announced on Tuesday that it would delist U.S. stock shares. The shares of the Amsterdam-based firm are still listed on both the London and Amsterdam stock exchanges.

Groen said in an interview that “this is a cost-reduction measure”. Groen reiterated that company was still considering strategic options to ensure the future of the subsidiary.

Takeaway, the largest food delivery company in Canada, Germany and Britain, bought Grubhub for $7.3 billion in June last year but has since come under pressure from shareholders https://www.reuters.com/article/just-eat-takeaway-investor-idINKBN2HF0N8 to sell the unit.

Groen reiterated his belief that the biggest food delivery companies in every market are ultimately the most profitable. Groen acknowledged that the company was not the “number one” food delivery service in America, where it is competing with Uber and Doordash (NYSE:).

His words were: “We must get to a market place such as the Netherlands has, so that our company can make money.”

Grubhub is a platform that allows us to have many conversations with American people. However, you must set the ultimate goal for your conversations with people to improve the business.

Takeaway shares ended Friday closing at 38.25 Euros, down 6% over the previous day. The shares have seen a two-thirds decline in value since October 2020 when the peak was above 109 Euros.