Uber exploring possible Expedia bid

17th Oct 2024 09:03

(Sharecast News) - Uber has explored a possible bid for travel booking website operator Expedia, according to the Financial Times, a move that would easily mark the ridesharing giant's biggest acquisition to date.

Uber was said to have approached Expedia after the notion of acquiring the company had been floated by a third party to examine whether or not such a deal was even possible and, if so, just how it could be structured, said the FT, citing three people familiar with the matter.

The FT highlighted that its sources had cautioned that Uber's interest was preliminary and that it was still possible that a deal would not transpire.

Uber has yet to make any formal approach for Expedia and there were currently no discussions taking place, said one of the FT's sources.

As of 1115 BST, Uber shares were down 2.43% in pre-market trading at $79.91 each, while Expedia looked set to open 7.19% firmer at $161.69 per share.

Reporting by Iain Gilbert at Sharecast.com