Uber coming soon to Serbian market, initially only via delivery services

Users in Serbia might soon see Uber appear on their smartphone screens, though not necessarily in the form that made the global giant famous, passenger transport in private cars, but rather through the major global consolidation of the delivery market.

The announced acquisition of Delivery Hero by Uber, which owns the regionally dominant delivery service Glovo, opens the door for the American corporation to enter the local market indirectly by taking over an already established delivery network.

Thus, the question of Uber entering the Serbian and regional markets has resurfaced through acquisitions in the food and goods delivery sector, rather than directly through its original line of business. The key driver of this shift is the business transaction agreement signed by Uber and Delivery Hero on July 16 of this year.

Branka Andjelkovic, Director of the organization Re:People – Center for Society and Technology, states that the German regulator BaFin has approved the publication of the offer document, and the formal period during which shareholders can accept Uber’s offer of EUR 41.50 per share runs until November 5.

The company’s total estimated value is approximately USD 14.8 billion, with the transaction expected to close in the second half of 2027. Until then, Delivery Hero will continue to operate as an independent company.

However, not all of Glovo’s operations will transfer to Uber.

– To alleviate antitrust concerns under EU regulations, Delivery Hero agreed to sell its operations in 14 markets where it overlaps with Uber Eats to the US investment firm SSW Partners for approximately EUR 1.4 billion. For instance, the Romanian arm of Glovo is slated to become part of SSW Partners, while operations in Greece and Turkey will remain under their existing brands but transfer to SSW ownership. Essentially, Glovo is shifting from an independent regional expansion project to becoming part of Uber’s broader global network in selected markets – explains Andjelkovic.

According to her, Serbia, Croatia, Montenegro, and Bulgaria have been included in the group of 50 markets Uber intends to acquire. This indicates that, at this stage, Uber views them as part of its future network rather than as assets earmarked for sale. She adds that the most likely scenario for Serbia is the continuation of Glovo’s operations under its current brand, followed by a gradual technological and business integration with Uber.

Glovo’s decision in early June to withdraw from the Bosnian and Herzegovinian market surprised many in the region. However, this move should not be viewed in isolation but rather as part of Delivery Hero’s broader strategy regarding which markets to retain and which to exit, the analyst notes.

She points out that Delivery Hero acquired Glovo in 2022, making the regional delivery service part of a global group that constantly evaluates which markets justify further investment.

By acquiring Glovo, Uber would gain a fully developed logistics network, a user base, partnerships with restaurants, and thousands of delivery drivers in Serbia, without the need to build a brand and infrastructure from scratch or enter the food and goods delivery market from the ground up. However, the question arises of whether Uber could use its delivery operations as a springboard to launch its core business, passenger transport?

Serbia’s legislative framework has created a clear barrier to Uber’s original business model. Amendments to the Law on Road Passenger Transport strictly stipulate that commercial passenger transport may only be performed by registered taxi operators who hold taxi licenses and comply with established municipal quotas.

Nevertheless, by acquiring Glovo in Serbia, Uber would gain a registered legal entity, a database of payment cards, and a significant presence on citizens’ smartphones. Should it wish to offer passenger transport, Uber could implement its Uber Taxi model, already in use in countries like Germany, Austria, and Italy, where the standard Uber service is banned. Under this model, the Uber app connects exclusively with licensed taxi drivers. If a user already has the app installed for food delivery, the option to order a licensed taxi becomes a simple software addition within a unified super-app. However, it is worth noting that the Serbian taxi market is already dominated by another app, Russia’s Yandex, which services two-thirds of the registered taxi vehicles in Belgrade.

Regulatory Pressures in the EU

While global consolidation is underway, with a handful of players like Uber, DoorDash (which owns Wolt), and Prosus taking over the entire market, European institutions are attempting to establish stricter oversight. Although the new EU Platform Work Directive does not directly apply to Serbia, changes within the EU have a direct impact on the algorithms, contracting models, and global strategies of companies operating in our market as well. At the same time, antitrust scrutiny has intensified.

– In 2025, the European Commission fined Delivery Hero EUR 329 million for the exchange of confidential information, non-poaching agreements, and the division of geographic markets. Now, Uber’s acquisition of Delivery Hero is being announced, while another US platform giant, DoorDash, already controls Wolt and Deliveroo. Meanwhile, Prosus, an Amsterdam-based technology investment company controlled by the South African group Naspers, controls Just Eat Takeaway – she says.

All of this points to a broader consolidation of operations and the acquisition of delivery platforms by a few major global players, such as the US-based Uber and DoorDash, as well as Prosus. Large groups are acquiring competitors, retaining the most profitable markets, and exiting weaker ones, Andjelkovic notes.

In her view, Uber’s acquisition of Delivery Hero, which is the majority owner of Glovo, poses a significant challenge to European competition policy.

– Legal instruments exist, but they are employed too late, through separate national proceedings, and with insufficient regard for operations, data, and long-term network effects. The real test will not be whether the Commission imposes a fine once again only after several years, as was the case in 2025, but whether it sets conditions right now that safeguard genuine competition from the outset – believes Branka Andjelkovic.

Uber

Delivery Hero

SSW Partners

Uber in Serbia

Re People Center for Society and Technology

Branka Anđelković