UPDATE 1-Uber exploring full takeover of Germany's Delivery Hero, Bloomberg News reports
Uber Technologies,Inc. UBER | 0.00 |
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May 22 (Reuters) - Uber UBER.N is exploring options for a full takeover of rival delivery service provider Delivery Hero DHER.DE, 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.
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.
"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.
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%.
