Zomato emerges as frontrunner to acquire UberEats.
Value Lies in the Eyes of the Beholder: Restaurant discovery and food delivery platform Zomato has emerged as the frontrunner to acquire Uber's food delivery business in India.
Zooming Out: Uber has quoted a price of $500mn for UberEats. The negotiations include a stock deal and Uber might invest in Zomato’s next financing round.
Previously: Uber had also approached Swiggy earlier in 2019, but the talks failed due to differences over valuation. ToI
No Uber No Cry: London’s transport regulator, Transport for London (TfL), has refused to grant ride-hailing platform Uber a new license in the city after authorities found that more than 14,000 trips were taken with uninsured drivers.
Transport for London announced the decision not to renew the ride-hailing firm’s licence at the end of a two-month probationary extension granted in September.
Uber has meanwhile confirmed that it will appeal the decision. The Guardian
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