By Denny Jacob

--Uber Technologies Inc. is exploring whether to spin off its Uber Freight logistics arm in a sale or as a separate publicly traded company to center its focus on ride hailing and food delivery, Bloomberg reported, citing people familiar with the matter.

--The ride-hailing company is discussing options with potential advisers but a decision on the freight unit isn't imminent and plans could change, the report said

--An initial public offering is the more likely outcome, Bloomberg reported. If the company decides on an IPO, it may not happen until next year and will depend on market conditions, the report said.

--An Uber spokesman declined to comment on what he called rumors and speculation, according to Bloomberg.

Full story at https://www.bloomberg.com/news/articles/2023-03-08/uber-technologies-is-said-to-consider-spinning-off-freight-logistics-division?srnd=premium&sref=b0us4KbN

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 08, 2023 17:51 ET (22:51 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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