Uber exploring full takeover of Germany's Delivery Hero, Bloomberg News reports
Uber's Potential Acquisition of Delivery Hero: Key Developments
Background and Recent Developments
May 22 (Reuters) - Uber is exploring options for a full takeover of rival delivery service provider Delivery Hero, Bloomberg News reported on Friday, citing people familiar with the matter.
The news comes days after Uber more than doubled its stake in Germany's Delivery Hero to about 19.5% of issued capital from roughly 7%, becoming the largest shareholder.
Company Responses and Regulatory Filings
Uber did not immediately respond to Reuters' requests for comment, while a Delivery Hero spokesperson said the company can not comment on Uber's plans.
Statements from Uber
"If Uber believes that further investment in the Issuer is attractive, Uber may acquire (or seek to acquire) shares or other securities," the company said in a regulatory filing on Monday.
It, however, added in the filing that it did not currently intend to increase its stake to 30%, as that would trigger a mandatory offer to the remaining shareholders.
Ongoing Deliberations and Market Impact
Deliberations are ongoing, and there is no certainty they will lead to a deal, according to the Bloomberg report.
Uber shares were down 1.6%.
Reporting Credits
(Reporting by Harshita Mary Varghese in Bengaluru and Tom Sims in Frankfurt; Editing by Shinjini Ganguli)
