Uber Raises Stake in Delivery Hero to Nearly 25%

American ride-sharing giant Uber has significantly boosted its shareholding in German food delivery company Delivery Hero, raising its stake from 19.50% to nearly 25% (24.99%). This strategic increase in ownership comes as Uber continues its pursuit of a larger presence in the food delivery market.

The move by Uber, already the largest shareholder in Delivery Hero, follows a rejected offer last week where the company proposed 33 euros per share. Reports suggest that Uber's board met recently to discuss potentially increasing this offer, having previously approached a major shareholder with a bid of 38 euros per share, which was also turned down.

Adding another layer to the corporate maneuvering, investment fund Aspex has concurrently decreased its stake in Delivery Hero. Aspex's shareholding has fallen from 14.55% to 7.56%, indicating a shift in its investment strategy regarding the German company.

According to the Financial Times, several shareholders in Delivery Hero are holding out for a price exceeding 40 euros per share, suggesting a valuation gap that Uber has yet to bridge to secure a full acquisition or a more substantial controlling interest.