Zomato Emerges As Frontrunner to Acquire UberEats, Uber Denied Licence Renewal in London

Zomato emerges as frontrunner to acquire UberEats. 

 

UBER

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

Uber has been denied licence renewal in London. 

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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