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Uber Acquisition of Delivery Hero Faces Complications
June 9, 2026
Uber’s pursuit of Delivery Hero faces complications as Saudi Arabian quick-commerce group Ninja, considers a bid for parts of Delivery Hero’s Middle East portfolio, as per sources. Ninja’s options include acquiring HungerStation outright and partnering with another group to buy a stake in Talabat. Ninja is likely to prioritise HungerStation in Saudi Arabia as an initial target given easier integration and fewer regulatory hurdles, with a proposal to Delivery Hero’s board possible as early as this week, the sources noted. DoorDash has separately expressed interest in Delivery Hero’s Middle East arm and was told that Talabat’s 80% stake alone is worth over €9bn ($10.4bn). Prosus, until recently Delivery Hero’s largest shareholder, has been considering expanding its stake to block Uber’s takeover, they added. Some Delivery Hero shareholders have indicated they would support bids approaching €10bn ($11.5bn) for the two Middle East assets combined, which would challenge Uber’s latest implied valuation of the whole group at around €12bn. Delivery Hero’s board is weighing a full sale or a breakup that spins off its Middle East and South Korean divisions separately. Uber is also reported to have explored the Korean division jointly with Naver at a valuation above €4.6bn ($5.3bn).
Uber’s dollar bonds traded stable. Its 4.3% 2030s were at 98.6, yielding 4.7%.
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