Uber plans to sell 7.8% stake in Zomato

  • The ride-hailing giant, which acquired a stake in the Indian firm when it sold its local Uber Eats business to Zomato in early 2021, plans to sell its stake through a block deal of over $350 million, for which it is working with Bank of America Securities, the source said, requesting anonymity as the details are private.
  • Uber sold its food delivery business in India to the local rival Zomato for $206 million, following years of aggressive attempts to compete with local food giants Zomato and Swiggy.