TLDR
- Uber is exploring a full takeover of European food delivery company Delivery Hero, according to Bloomberg
- Uber confirmed this week that it owns a 19.5% stake in Delivery Hero, in addition to a 5.6% stake in options.
- Morgan Stanley helped Uber quickly build its position using financial derivatives
- Uber shares fell by about 1.9% due to the news. DoorDash stock rose 1.9%.
- Delivery Hero has risen by almost 110% in Frankfurt over the past six months, valuing it at around €10.2 billion.
Uber is in early-stage talks about a full takeover of Delivery Hero, the food delivery giant listed on the Frankfurt Stock Exchange, according to a Bloomberg report published on Friday.
$ Uber It is said to explore the full rendition of the hero’s takeover
Uber is working with advisors on ways to increase its stake in Delivery Hero, Bloomberg reported. Uber revealed this week that it owns 19.5% of Delivery Hero, plus another 5.6% in options.
The company said it has no current plan… pic.twitter.com/tftzoz62lz
– Wall Street Engine (@wallstengine) May 22, 2026
The move is intended to help Uber better compete with DoorDash outside the United States.
Uber shares fell by about 1.9% after the report. DoorDash, seen as a major competitor in international delivery, rose 1.9% on the same news.
Earlier this week, Uber revealed that it had quickly built up a 19.5% stake in Delivery Hero, along with an additional 5.6% in options. The position was put together with the help of investment bank Morgan Stanley, which used derivatives to move quickly.
Uber It has also spoken with other Delivery Hero investors about its potential interest in the deal, according to Bloomberg sources.
What Uber said publicly
In an official filing with German regulators, Uber stated that it does not currently intend to raise its stake to 30% or more – a threshold that would normally trigger a mandatory takeover bid under European rules.
However, the company noted that it reviews its investments periodically and could purchase more shares if the right opportunity arises.
Uber also said it has no plans to change Delivery Heroes Capital structure or influence on board appointments beyond standard voting rights.
The company may still need antitrust approval before crossing certain ownership limits in Europe.
Where the delivery hero stands
Delivery Hero’s stock has risen by almost 110% in Frankfurt trading over the past six months, giving it a market value of around €10.2 billion.
The company operates food and grocery delivery services across multiple markets outside the US, making it a strategic asset for any platform looking to grow internationally.
Bloomberg said that Uber, working with financial advisors, is actively examining ways to further increase its stake.
Deliberations are still ongoing, and sources warned that it is not certain that the talks will lead to a final agreement.
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