Uber set to offload 7.8% stake in Zomato through a block deal: Report


Content Team
Image Credit: livemint

Even as Zomato shares hit upper circuit on Tuesday, it appears that the foodtech giant’s shares may be headed for a decline on the bourses on Wednesday. According to Reuters, Uber is likely to execute a $373 Mn block deal to sell its 7.8% stake in the Gurugram-based food delivery company on August 3. The transaction is likely to be executed at a discount of 2.8%-13.6% to the latest closing price.