Uber has agreed to sell its Uber Eats business in India to local rival Zomato in return for 9.99 per cent of the start-up, maintaining a foothold in one of the world’s fastest-growing internet arenas. Photo: Bloomberg

Uber sells India food business to local rival Zomato as it moves to cut losses globally

  • The US ride-hailing giant has been making an effort to cut back on loss-making operations globally
  • It will offload the business to Zomato in return for 9.99 per cent of the Indian start-up, which is backed by Jack Ma’s Ant Financial
Topic |   India
Uber has agreed to sell its Uber Eats business in India to local rival Zomato in return for 9.99 per cent of the start-up, maintaining a foothold in one of the world’s fastest-growing internet arenas. Photo: Bloomberg
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