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Uber shows interest in Expedia acquisition
Ride share firm Uber has reportedly been in preliminary talks about a possible acquisition of online travel platform Expedia Group.
Neither party has responded yet after the Financial Times first reported the news.
CNBC has since confirmed it, with one person familiar with the discussions saying discussions are in early stages.
Uber CEO Dara Khosrowshahi joined the ride share firm from Expedia, where he was CEO for many years.
Khosrowshahi is still a member of the Expedia board.
Expedia Group has a current value of about $20 billion.
Uber’s super app ambitions has already seen it move into online travel segments that Expedia is known for.
Uber already offers aggregation services such as flight and rail bookings via the app.
Sources say Uber hasn’t yet made a direct approach to Expedia yet.
Expedia reported $3.6 billion in revenues for this year’s second quarter.
Its share price rose as much as 8% on the news.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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