Uber Technologies is reportedly exploring a full acquisition of European food delivery rival Delivery Hero. The potential deal aims to expand Uber's international footprint and strengthen its competition against DoorDash.
The move follows Uber’s disclosure earlier this week that it increased its stake in the Frankfurt-listed firm to 19.5%.
Uber shares fell as much as 3% on Friday following the Bloomberg report. Investors weighed potential execution risks and the capital required for a complete acquisition.
Delivery Hero's US-listed shares surged approximately 10% on the takeover speculation.