Uber faces a new challenge over its pursuit of Delivery Hero, as a rival shareholder explores expanding its position to thwart a takeover attempt for the German food delivery group.
Investment firm Prosus, which until last month was Delivery Hero’s largest shareholder, has spoken to other investors about the price for which they would sell their stakes in the business, according to people familiar with the matter.
The move would pose a challenge to Uber, which has acquired a 37 per cent stake in Delivery Hero, after a €33-a-share offer to buy the company — whose brands include Glovo, Talabat and Foodpanda — was rebuffed last month. Uber’s latest stake increase valued the group at more than €12bn.
Prosus, which had formerly had a 27 per cent holding, had been forced to forfeit its voting rights and agreed to sell down its stake to “single digits” by August 2026 as part of a deal with EU antitrust authorities to acquire Just Eat Takeaway last year.
However, on Monday, the European Commission granted Prosus a waiver to extend the period by which it must sell down its position. It said the investment group “still has to fully comply” with its commitment to reduce its shareholding, but did not comment on the length of the extension.
