Investing.com -- Uber Technologies shares fell as much as 3% on Friday following a Bloomberg report that the company is exploring a full takeover of European rival Delivery Hero SE.

Lyft shares also declined in sympathy with Uber after initially trading higher. Doordash dropped roughly 1% following the report.

The ride-hailing company is working with advisers to study ways to increase its stake in the Frankfurt-listed food delivery firm, the report said. Uber has been speaking to other Delivery Hero investors about its interest in a potential deal.

On Monday, Uber disclosed it owned 19.5% of Delivery Hero after acquiring additional shares and instruments, plus a further 5.6% in options. Morgan Stanley has assisted Uber in rapidly building its position using derivatives, the report added.

Uber stated this week that while it currently had no intention to lift its stake to 30% or more, it periodically reviews investments and could buy more if an attractive opportunity arises.