Expedia Group’s shares surged by up to 9.3pc to $165.85 after reports surfaced that Uber Technologies considered a potential bid for the online travel-booking company.
Although Uber approached advisors about a possible deal, no formal offer has been made, and there are currently no ongoing discussions, according to unnamed sources.
Acquiring Expedia would align with Uber’s goal of becoming a “super app” for travel services, although it would also expose them to the volatile US travel market.
Uber’s shares fell almost 3pc following the news, reflecting investor apprehension, while any potential deal would likely require CEO Dara Khosrowshahi to recuse himself due to his previous role at Expedia.
