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Market Chatter: Uber-Delivery Hero Deal Faces New Challenge as Prosus Considers Stake Increase

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Uber Technologies (UBER) faces a new hurdle in its efforts to acquire Delivery Hero, as major shareholder Prosus is considering increasing its stake in the German food delivery group, the Financial Times reported Monday, citing people familiar with the matter.

Prosus, formerly Delivery Hero's largest shareholder with a 27% stake, has been discussing with other investors the price at which they would be willing to sell their stakes. Prosus had agreed to cut its stake to "single digits" by August as part of a deal with EU antitrust authorities to buy Just Eat Takeaway, the report said.

In an emailed reply to, the European Commission confirmed that, on Friday, it granted Prosus more time to reduce its stake following a request from Naspers, Prosus' parent company. "Naspers still has to fully comply with the commitments," it added.

Prosus is now considering using the extension to temporarily increase its ownership in Delivery Hero, potentially to block a takeover by Uber or strengthen its negotiating position in any future deal. The Amsterdam-based group could also vote against an Uber bid, the report said, citing a person familiar with the matter.

Delivery Hero declined to comment, and Uber and Prosus didn't immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $73.45, Change: $+3.05, Percent Change: +4.33%

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