Uber explores takeover of Delivery Hero, holds nearly 20% stake
Uber is thinking about taking over Delivery Hero, a big food delivery company based in Berlin.
Right now, Uber owns nearly 20% of Delivery Hero and has options for another 5.6%.
It's working with advisers and talking to other investors about possibly upping their stake even more.
Uber says 30% stake cap
Uber says it currently won't go above a 30% stake, but talks are still ongoing.
If Uber does pull off a full acquisition, it could boost its reach worldwide and help them compete with rivals like DoorDash.
Delivery Hero is active in over 60 countries, and its stock has jumped almost 50% this year, putting its value at €10.2 billion ($11.8 billion).
Niklas Ostberg exits after investor pressure
Investor pressure for change recently led to CEO Niklas Ostberg deciding to step down.
Big shareholders like Prosus NV (16.8%) and Aspex Management (14.4%) are watching closely as Uber's moves could seriously shape the company's future direction.