Shares in SAP, Europe’s largest software maker, were set for their steepest daily fall since October 2020 on Thursday, sliding more than 10% after earnings failed to halt a selloff that has erased about $150 billion from the company’s market value since its 2025 peak.

Germany’s Federal Cartel Office is reportedly considering launching proceedings against software giant SAP following a complaint from rival firm Celonis.

The European Commission has opened an antitrust investigation into German software company SAP, citing concerns that the firm's business practices could be distorting competition in the market.

Shares in SAP were up 5% at market open on Tuesday, hitting an all-time high of 221 euros ($239.21) after the German software company raised its full-year targets on a strong cloud business in the third quarter, News.Az reports citing Investing .