Uber Reportedly Eyes Daimler and BMW Ride-Hailing Venture - TheStreet

Uber Reportedly Eyes Daimler and BMW Ride-Hailing Joint Venture

Uber reportedly is considering the purchase of Free Now, the ride-hailing joint venture from Daimler and BMW.
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Uber Technologies  (UBER) - Get Report is considering the purchase of Free Now, the ride-hailing joint venture from Daimler and BMW, Bloomberg reported.

An acquisition of Free Now could boost Uber’s market share in Europe and Latin America.

Uber expressed interest in acquiring Free Now after the joint venture failed to attract additional investors during the coronavirus pandemic, people familiar with the matter told Bloomberg.

There’s no certainty the talks will lead to a transaction, and other bidders could emerge, the people told Bloomberg.

Uber shares traded down 0.45% in premarket trading Tuesday to $35.40.

Uber on Monday won a long-running battle with transport officials in London to keep its operating license in Europe's biggest city.

Deputy chief magistrate Tan Ikram, who presided over the lengthy appeal made by Uber to a Transport For London decision to remove the company’s operating license in 2017, and then again in 2019, said he was convinced that Uber "no longer poses a risk to public safety … despite historical failings" and granted it a license for the next 18 months.

Transport for London, which is headed by Mayor Sadiq Khan, had argued that thousands of Uber journeys in London were made in cars driven by non-licensed drivers using fraudulent IDs to log onto the group's platform.

"I find them, now, to be a fit and proper person to hold a London private hire vehicle operator’s license," Judge Ikram said. "I do, however, wish to hear from the advocates on conditions and on my determination as to the length of a license."