Uber Sells Indian Food Delivery Arm to Ant Financial-Backed Zomato
(Reuters) – Uber has sold its online food-ordering business in India to local rival Zomato in exchange for a 9.99% stake in the startup backed by China’s Ant Financial, limiting its exposure to a crowded market where it has struggled to grow. The all-stock deal is likely to push Zomato to the top position in India’s food delivery market, ahead …
News story posted on 2020-01-21T04:45:00.0000000Z
