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The European Commission is planning to extend a critical deadline for Prosus NV to sell down a stake in Delivery Hero SE to October, buying the investor some meaningful time to thwart another possible takeover attempt of the food delivery service by Uber Technologies Inc.<\/p>\n
The commission is now planning to give Prosus until 11 October to sell down its stake in Delivery Hero, a condition previously imposed as part of Prosus\u2019s acquisition of rival Just Eat Takeaway.com, people familiar with the matter said, asking not to be identified because the information isn\u2019t public. Without an extension, Prosus would have had to significantly unwind its position by mid-August.<\/p>\n
Read: Prosus asks EU to end forced sale of Delivery Hero stake<\/p>\n
The move gives Prosus time to consider its own bid for Delivery Hero after Uber\u2019s offer to buy the German delivery service, valued at about \u20ac10 billion ($11.6 billion), was rejected, the people familiar with the situation said. Prosus would also be able to weigh buying even more Delivery Hero shares, as opposed to selling them, just to block another potential Uber attempt, the people said.<\/p>\n
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The European Commission didn\u2019t respond to a request for comment left after business hours. Prosus declined to comment.<\/p>\n
Read: Prosus sells 5% Delivery Hero stake to Hong Kong\u2019s Aspex<\/p>\n
Amsterdam-based Prosus has actively pressed the European Union to drop the condition requiring it to get rid of Delivery Hero shares as it doesn\u2019t want to be forced to sell the stake to Uber, Bloomberg reported last month. A backing down from that requirement would represent a meaningful departure in stance for Brussels, which has tightly policed competition in the region\u2019s digital economy \u2014 but has also grown increasingly concerned about Europe\u2019s reliance on US technology companies.<\/p>\n
On Monday, the EU said it was reviewing Prosus\u2019s request to drop the condition that it sell Delivery Hero shares. Prosus currently holds a 17% stake in the business.<\/p>\n
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Prosus targets $3.6bn billion from Just Eat sales in Euro push
Uber raises Delivery Hero stake in \u20ac270m Prosus deal<\/p>\n
Uber has meanwhile been amassing a sizable stake in Delivery Hero as part of its efforts to take over the company, a pursuit inspired in part by Prosus\u2019 forced sale. Uber has now raised its voting rights attached to shares in Delivery Hero to roughly 25%. Under German law, Uber would have to make a mandatory offer if it reaches 30%.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Prosus #October #Delivery #Hero #sale #Uber #bid<\/p>\n","protected":false},"excerpt":{"rendered":"
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