Tech investor Prosus is lobbying the European Union to drop its requirement that the company divest its stake in Delivery Hero, as Uber pursues acquisition of the German food delivery group. The EU mandated the share sale as an antitrust condition for approving Prosus’ €4.1bn acquisition of Just Eat Takeaway in August 2025. Prosus currently holds around 17% of Delivery Hero. Uber previously made offers of €33 and €38 per share — both rejected — with the latter valuing Delivery Hero at over €11.5bn. Delivery Hero shares surged more than 12% to nearly €38 on Tuesday.
In-Depth:
EU notified Prosus to give up its Delivery Hero stake in exalter for acquiring Just Eat Takeaway.
Tech investor Prosus wants the European Union not to force it to sell off Delivery Hero shares, as Uber eyes acquiring the German food delivery group, Bloomberg reported, citing sources close to the matter.
The Commission imposed share sale as part of a series of antitrust remedies in order to approve Prosus’ €4.1bn acquisition of Just Eat Takeaway in August 2025.
The EU was concerned that Prosus’ near 30pc stake in Delivery Hero – a Just Eat Takeaway competitor – would cautilize less competition and a higher likelihood of coordination between the two companies, which could lead to higher prices for consumers.
Naspers, Prosus’ parent company, had agreed to reduce its shareholding in Delivery Hero to a “single digit percentage” by August this year.
The company also committed not to exercise the voting rights it has with its remaining shares in the company and to not increase its equity in the company above a certain threshold.
Currently, Prosus holds around 17pc of Delivery Hero, with other shares held by a number of large investors.
Prosus, however, does not want to sell its stake in Delivery Hero as Uber continues to eye the food delivery group for acquisition.
The ride hailing giant is reportedly considering upping its bid to purchase Delivery Hero, after an offer, which would have valued the company at more than €11.5bn, was rejected.
Last week, Delivery Hero declared that Uber built an offer to purchase the company at €33 per share.
Meanwhile, sources notified the Financial Times that Uber approached one of Delivery Hero’s largest shareholders with a €38 a share offer. Both the offers were rebuffed.
Delivery Hero shares went up by more than 12pc today to nearly €38 per share.
Last year, the EU fined Delivery Hero and Spanish delivery start-up Glovo €329m for participating in a “cartel” in the online food delivery sector for exaltering commercially sensitive information and allocating geographic markets.
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