In February this year, Uber announced plans to enter seven new European markets by 2026. Today, the British Financial Times reports that access to five of these markets has been suspended, involving countries such as Austria, Norway and Greece.
Uber subsequently confirmed this adjustment to the Financial Times. The company stated that recent online progress in Finland and Denmark had been “very successful” and therefore wished to focus on the continued advancement of existing markets.
Mergers are still fermenting.
According to industry sources, the suspension of further expansion of Uber may also be linked to its plan to acquire Delever Hero. Uber offered 10 billion euros in May, but was rejected by Delivery Hero.
According to industry sources, slowing the expansion of new markets may help to alleviate potential antimonopoly concerns. The reason for this is that Delever Hero also runs out of stock in some of the target countries.
European layout is being tightened for the time being.
At present, Uber’s European strategy has not stopped, but has moved from a fast-spreading to a priority of consolidating existing markets. When a new round of expansion will be restarted, it will continue to depend on follow-up operations and progress in M & As.