Prosus and Delivery Hero face EU sales pressure as Uber disrupts demand.
Prosus is asking Brussels to stop forcing it to sell a stake that is suddenly worth keeping. Prosus NV has asked the European Union to drop a requirement that it sell shares in Delivery Hero SE, part of antitrust approval for its acquisition of another delivery platform, people familiar with the matter said. The timing is directly connected to Uber’s growing interest in taking over the Berlin-based food delivery company.
The European Commission imposed the share sale as part of a series of antitrust remedies to approve Prosus’s €4.1 billion acquisition of Just Eat Takeaway in August 2025. The EU was concerned that Prosus’s near 30% stake in Delivery Hero, a Just Eat Takeaway competitor, would cause less competition and a higher likelihood of coordination between the two companies, which could lead to higher prices for consumers.
Napers’s parent company, Prosus, had agreed to reduce its shareholding in Delivery Hero to a single-digit percentage by August this year. Prosus has been complying. It sold a 4.5% stake to Uber for €270 million. It then sold another 5% block to Aspex Management for €335 million. That second sale represented a 10% premium to Delivery Hero’s closing price, reflecting demand for the shares.
Prosus Delivery Hero EU Forced Sale
Prosus wants Brussels to stop forcing it out of Delivery Hero just as Uber is trying to move in. That turns a merger remedy into a live test of how Europe handles technology portfolios when the market changes under its feet.
Delivery Hero confirmed that Uber indicated interest in a possible public takeover offer at €33 per share. That values the German company at roughly €10 billion. Its shares jumped after the disclosure, a sign that investors now see the company less as a forced-sale problem for Prosus and more as a strategic target in a consolidating market.
In other words, Prosus made the EU commitments when Delivery Hero looked like a liability. It now looks like an asset. Prosus, which holds about 17% in Delivery Hero, does not want to be forced to sell its stake as Uber Technologies negotiates a takeover with the German startup.
What Happens to Aspex and the Broader Shareholder Picture
Aspex Management, the Hong Kong activist investor, purchased two tranches of Delivery Hero shares from Prosus. It now holds approximately 14%, making it the second-largest shareholder. Aspex is not a passive investor. In March, the firm publicly told Delivery Hero’s chief executive to sell more assets or step down.
Meanwhile, JPMorgan Chase has also increased its aggregate stake to 6.68%. The shareholder register is reshaping fast. Delivery Hero’s stock has surged more than 37% over the past 30 days. Prosus no longer owns the 27.4% Delivery Hero stake that first alarmed Brussels when the Just Eat transaction was reviewed.
After two recent sales, it is down to about 17%. But the European Commission’s remedy still requires a deeper reduction, widely reported as below 10% by late summer. Whether Brussels agrees to revisit that requirement now falls to the European Commission.
