The global investment giant Prosus has agreed to sell a 4.5% stake in Delivery Hero to Uber. The transaction, valued at approximately €270 million, spotlights the shifting alliances within the industry and represents a critical step for Prosus in meeting its regulatory obligations.
A Regulatory Balancing Act
The sale is primarily driven by antitrust commitments made to the European Commission. Following its acquisition of Just Eat Takeaway.com in 2025, Prosus was mandated to significantly reduce its shareholding in Delivery Hero to prevent a concentration of market power that could harm competition. By offloading 13.5 million shares to Uber, Prosus has reduced its stake from 26.3% to 21.8%, progressing toward a goal of reducing its holding to single digits by August 2026.
Uber’s Strategic Expansion
For Uber, the acquisition represents a calculated expansion into the European and global markets where Delivery Hero maintains a dominant presence. The shares were purchased at €20.00 each, a 22% premium over the one-month volume-weighted average price. This move brings Uber’s total holding in the Berlin-based firm to roughly 7%, signaling its long-term commitment to the platform.
Delivery Hero’s CEO, Niklas Östberg, described Uber’s increased position as a “meaningful endorsement” of the company’s platform and strategy. The investment comes at a time of broader market consolidation, as major North American players like Uber and DoorDash seek to solidify their footprints across the Middle East, Asia, and Europe.
The Future of the Market
While Prosus remains a minority shareholder for now, the company has confirmed its intent to sell the remainder of its mandated stake within the regulatory timeframe. For the broader industry, the transaction highlights the complex interplay between massive growth and the watchful eyes of regulators. As these “Goliaths” of the delivery world trade stakes, the focus remains on whether such consolidation will ultimately lead to more efficient services or if the reduction in independent players will eventually impact consumer prices and choice. For now, the deal provides Prosus with the liquidity to focus on its Just Eat Takeaway.com integration while cementing Uber’s role as a major stakeholder in the future of European delivery.
