As Prosus, led by South African billionaire Koos Bekker, wins more time for its Delivery Hero stake sale, Uber Technologies Inc. is exploring a full takeover of the German food delivery firm. Uber is reaching out to potential buyers for parts of Delivery Hero’s regional operations to help the deal pass antitrust scrutiny, according to people with knowledge of the matter.

Uber moves closer to global takeover

The San Francisco-based giant has approached businesses that might buy Delivery Hero assets in overlapping markets across Latin America, Asia, and Europe. These early talks indicate that Uber is moving ahead with its plans for a complete buyout. The company has already grown its equity stake in the Frankfurt-listed food delivery business to about 36.8 percent.

Under German capital market laws, crossing the 30 percent ownership threshold allows Uber to launch a mandatory takeover bid for the rest of the Berlin-based company. This fresh push follows Delivery Hero’s rejection of a €10 billion ($11.6 billion) buyout offer from Uber in May as it faces intense pressure from public shareholders to improve cash flow and returns.

Prosus fights for market control

For Prosus, a major tech investor, the situation offers a brief breathing room. The European Commission recently extended its antitrust deadline to October 11, giving Prosus more time to sell down its remaining shares. This extension gives the company, where Bekker serves as chairman, a chance to figure out how to respond to Uber’s aggressive market expansion.

The extra time lets Prosus weigh its options after the initial buyout rejection. Instead of divesting, Prosus could seek permission to buy more shares to block the American ride-hailing company from taking control. Prosus has lobbied European Union officials to drop the sale requirement completely, looking for ways to keep its shares out of Uber’s hands.

Prosus slashes stake amid regulatory standoff

The policy shift would be an unusual move for EU regulators, who generally enforce competition rules strictly. Yet, European policymakers are growing concerned about how much control US tech firms have over local infrastructure, which could influence the decision.

Prosus has already cut its Delivery Hero stake to 17 percent, down from 26.3 percent earlier this year, to comply with initial regulatory orders. Those sales included a 5 percent block trade to Aspex Management and a 4.5 percent direct sale to Uber. The standoff underscores the tightening competition inside Europe’s food delivery sector as major players consolidate.