Uber (NYSE:UBER) is reportedly assessing the possibility of acquiring a controlling stake in Kakao Mobility, according to a report by Seoul Economic Daily.
The ride-hailing giant has recently communicated its interest in purchasing shares from major investors in Kakao Mobility and has begun conducting due diligence as part of the evaluation process, the report said.
Uber is said to be targeting a stake exceeding 50% in the company. This potential acquisition could include the 28% holding controlled by a consortium led by TPG, a 6.17% stake owned by Carlyle, as well as part of the shares currently held by Kakao Corp.
Kakao Mobility is currently estimated to carry a valuation of roughly 5.5 trillion Korean won, according to the report.