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Uber and Naver Bid $5.34 Billion to Acquire South Korea's Baemin

GateNews

According to Reuters, Uber and Naver submitted a joint bid of up to 8 trillion won (US$5.34 billion) to acquire Baedal Minjok, South Korea’s largest food delivery platform currently owned by Germany’s Delivery Hero. The two companies formed an 80-20 consortium, with Naver holding the minority stake. A Naver spokesperson confirmed the company had received a teaser letter related to the deal but stated nothing had been decided.

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