U.S. ride-sharing giant Uber has reportedly paused the majority of its earlier planned food delivery expansion in Europe just months after announcing the plans, as it pursues a takeover of Delivery Hero, the Financial Times (FT) indicated on Sunday.
Uber no longer plans to launch food delivery in five of the seven countries it had targeted for expansion this year, including Austria, Norway and Greece, the report said. It did not identify the other two countries.
Earlier in the year, Uber said it planned to expand its food delivery business into seven new European markets - Austria, Denmark, Finland, Norway, Czechia, Greece and Romania.
The company expected the move to generate an additional $1 billion in gross bookings over the next three years.
The San Francisco-based company, however, is still seeking to acquire Delivery Hero, according to the FT report.
Delivery Hero said in May it had received a 33 euro per share ($37.74) offer from Uber, and Reuters reported that the U.S. company had raised its stake in the German food delivery company to nearly 37% from 25% after buying a stake from fellow shareholder Aspex Management.
Reuters could not verify the FT report. Uber and Delivery Hero did not immediately respond to requests for comment.
Uber told the FT it had decided to halt its expansion after the "huge success” of launches in Finland and Denmark, with plans to "focus on continuing the momentum” in existing markets.
