Shares of Prosus surged roughly 10% after reports that the European Commission granted the Dutch tech investor extra time to sell down its Delivery Hero stake — and that Prosus is now considering increasing that position instead, aiming to block Uber's €10 billion takeover bid. The Financial Times reported the Commission extended the deadline by which Prosus must reduce its stake to a single-digit percentage, though the duration of the extension was not disclosed. The question for shareholders: does playing defense in delivery pay better than cashing out?
• Brussels Handed Prosus a Second Chance, and It's Using It Aggressively
When Prosus bought Just Eat Takeaway for €4.1 billion in 2025, EU antitrust regulators forced it to slash its ~27% Delivery Hero stake because the two companies overlapped in five European markets.
Prosus complied, selling 4.5% to Uber at €20/share and another 5% to hedge fund Aspex at €22, raising roughly €605 million combined. Now, Prosus is considering using the waiver to temporarily increase its holding from about 17% to either block a potential Uber takeover or strengthen its bargaining position.
• Uber Already Controls a Commanding Lead
A voting rights disclosure dated May 27 shows Uber holds 24.99% of Delivery Hero's voting rights through direct shares and another 11.84% via instruments — a combined 36.83%.
Uber's indicative offer sits at €33 per share, valuing Delivery Hero at roughly €10.02 billion. Prosus's ~17% block is the single largest obstacle to that bid succeeding without a sweetened price.
• The Cash Is There, but the Strategy Cuts Both Ways
Stifel noted Prosus had more than €13 billion in gross cash following its Just Eat Takeaway and La Centrale acquisitions as of March 2026 , so funding isn't the issue. The risk is that Prosus ends up pouring capital into a stake it was ordered to sell — and if the EU reverses course, it could be forced to offload shares at a worse price.
• A Higher Bid Looks Inevitable — the Question Is Who Benefits
The Financial Times reported Uber already approached one of Delivery Hero's largest shareholders with a €38-per-share offer that was rebuffed.
Jefferies has set a €42.50 target on Delivery Hero , implying a bidding war could push proceeds well above Uber's opening salvo. For Prosus, every euro above €33 on its ~51 million remaining shares translates into substantial upside — if it's allowed to keep them.