Uber recently announced it plans to sell its non-strategic stakes in other companies.
The announcement was delivered by CEO of Uber Technologies Inc. Dara Khosrowshahi who said the mobility service provider would hold some stakes for strategic reasons but was looking to sell many others, including shares in Chinese ride hailing company Didi Global, Automotive News reported.
"Our Didi stake we don't believe is strategic," Khosrowshahi said. "They're a competitor. China is a pretty difficult environment with very little transparency."
Didi's shares are currently 53% down from June figures, following a $2.4 billion net loss during the third quarter of 2021.
Investors have raised concerns about the $13 billion the company has invested in other companies rather than its own operations.
Uber, which is based in San Franciso, also holds investments in Indian food delivery company Zomato, Southeast-Asian Grab, and self-driving company Aurora Innovation Inc among others.