00:00Now another potential big deal overseas, Uber has offered to buy Germany's Delivery Hero in a deal valuing the company
00:06at nearly 10 billion euros.
00:08Uber already owns 20% of the company and is seeking a takeover to ramp up competition with rival DoorDash.
00:15Natalie Young, a tech reporter for Bloomberg, joins us now on this.
00:19Why I, Delivery Hero, Natalie?
00:21If we look at what DoorDash, Uber's biggest driver in the U.S., has been doing overseas,
00:25it has bought Deliveroo in the U.K., it has bought WOT a few years ago, which expanded their presence
00:32in Eastern Europe.
00:33So Uber is trying to do the same, expand its presence across possibly Asia, Europe and the Middle East by
00:39eyeing Delivery Hero.
00:41Some of the challenges there we might expect because Uber's offer is just slightly above the hair of the closing
00:48price of Delivery Hero last week,
00:50we might see Uber might need to pay up or there might be rival bids.
00:55We already hear DoorDash is also eyeing the Middle East business.
00:58How much have DoorDash and Uber already looked abroad?
01:01How important is it for them to expand their business?
01:04And, you know, could you see like a Just Eat in the U.K. try to compete?
01:07Is it only the American companies that might come in to try to buy Delivery Hero?
01:11We've been seeing a lot of consolidation in Europe.
01:14Like these companies have, the market there is a bit fermented,
01:17and we've seen these companies struggle to recover from after the pandemic era.
01:23And so these U.S. companies are sort of swooping in and seeing what targets they can pick up.
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