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Zomato-UberEats deal on the cards?

Dec 16, 2019 by The Passage Team
Zomato-UberEats deal  on the cards?

Ride-hailing major Uber is in discussions to invest USD 100-200 million in fresh capital as part of the sale of its India food-delivery business to local rival Zomato, said multiple people directly aware of the transaction.

The investment will come into the combined entity of Zomato and UberEats, making the fund infusion an integral part of the share-swap deal between the two, sources close to the matter said.

If the merger goes through, Zomato and UberEats may emerge as the biggest by number of orders and size ahead of Swiggy in a hotly contested and cash-intensive online food-delivery market.

Source: Economic Times

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