Mexico’s antitrust regulator Cofece gave a green light for Uber Technologies Inc. to acquire a majority stake in grocery delivery service Cornershop.
The regulator’s approval was the only piece missing for the deal to be complete, Uber said in a statement Monday. Cornershop has been operating under Uber in select cities across Latin America, U.S. and Canada since July.
Uber is looking at food and grocery delivery as a way to grow as more people stay home during the pandemic. For two straight quarters, Uber has made more money dropping off food than transporting people. Uber is looking to expand by handling groceries and pharmacy items in addition to prepared meals. Terms for the Cornershop deal haven’t been disclosed.
In June, Uber also announced the $2.6 billion acquisition of food delivery company Postmates Inc., a deal expected to increase the company’s footprint and range of restaurants in the U.S.
Source: Bloomberg
Comments
more recommended stories
Israeli companies show interest in the Yucatan marketThey offer solutions in energy generation,.
Expat Community in Merida stands in solidarity with the family of murdered police officerMérida, Yucatán, (August 02, 2021) .-.
A week of “Bochorno” is expected for the Yucatán PeninsulaMérida, Yucatán.- Despite the arrival of.
Mexico-based fintech Credijusto buys a bankTHE FINANCIAL TIMES.- In the six.
These are Bacalar’s unique three-billion-year-old underwater lifeformsFamous for its brilliant seven shades.
Analysts say AMLO is focusing on his predecessors to distract from problems on his watch(Reuters) – Mexicans voted on Sunday.
Eni announces new oil discovery in MexicoEni announced the discovery of hydrocarbons.
AMLO’s Popular Consultation only counted with 7.74% participation percentageMEXICO, (August 02, 2021).- President Counselor.
Mexico reports 6,740 new Covid cases; deaths exceed 241 thousandThe Ministry of Health reports this.
Group of 1,000 illegal migrants detained amid border crisisDrone footage released on Sunday reportedly.
Leave a Comment