0603 GMT - Delivery Hero's Korean unit valuation appears high, Stifel's Clement Genelot writes in a note. According to Korean media reports, the German delivery company recently sent teaser letters for the sale of a controlling stake in its Korean unit--Woowa Brothers--to potential bidders including Naver, Uber, DoorDash and Alibaba and is seeking a valuation of 4.59 billion euros, he notes. "4.59 billion euros represents an optimistic opening bid rather than a realistic closing price." While Woowa was formerly one of the most profitable food-delivery assets globally, the switch from a monopoly to a duopoly with Coupang Eats has changed its long-term profile and its ability to be valued as a leader, he adds. Delivery Hero shares closed at 29.50 euros on Friday. ( najat.kantouar@wsj.com)
(END) Dow Jones Newswires
May 18, 2026 02:04 ET (06:04 GMT)
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