Uber is said to be in talks to acquire Delivery Hero as it pauses broader European food delivery expansion
Uber is reportedly pausing its organic expansion across European food delivery markets while it pursues a potential acquisition of Delivery Hero, the Berlin-headquartered food delivery platform with operations across dozens of markets in Europe, Asia, and the Middle East. The Financial Times reported the pause, with Reuters carrying the story, signalling that Uber is treating the potential deal as a strategic priority that would reshape its competitive position in European on-demand delivery. For Uber, an acquisition of Delivery Hero — or a significant stake in it — would represent a step-change in European market share, complementing its existing Uber Eats operations and potentially giving it access to Delivery Hero's subsidiary brands, including foodpanda across Asian markets. The decision to pause organic expansion while deal talks are live is a classic acquirer's posture: avoid duplicating infrastructure investment in markets that may soon be absorbed through inorganic growth. The transaction, if consummated, would almost certainly attract European Commission competition scrutiny given the combined entity's potential market power in multiple EU food delivery markets. Delivery Hero already operates Foodora and other regional brands; layering Uber Eats on top would create a dominant position in several jurisdictions. The deal structure — whether a full acquisition, a partial stake, or a joint venture carve-out — has not been disclosed by the sources. No advisers have been named.
Why this matters
A full or partial Uber–Delivery Hero transaction would be one of the largest consumer-tech M&A events in Europe this year, activating competition, corporate, and regulatory practices simultaneously. The European Commission merger control process under the EU Merger Regulation would be the central regulatory hurdle, given the parties' overlapping geographic footprints across multiple EU member states. Depending on deal structure, the transaction could also require regulatory clearances in non-EU jurisdictions where Delivery Hero operates, including the Middle East and Southeast Asia. The pause in organic expansion is commercially revealing: Uber is signalling to the market that it views consolidation as more capital-efficient than greenfield build-out, a posture consistent with the broader trend of US tech platforms rationalising European operations rather than competing directly with established local players.
On the Ground
On a cross-border M&A of this type, a trainee would be managing the conditions precedent (CP) checklist, tracking competition filings across multiple jurisdictions, and drafting board minutes recording each step of the deal approval process. Due diligence indexing across Delivery Hero's complex multi-jurisdictional subsidiary structure would be a significant workstream.
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