Activist investor Bill Ackman has taken a stake of more than $US2.3 billion ($3.6 billion) in the ride-share company Uber, snapping up shares that he said were priced at a “massive discount”.
Mr Ackman announced the new stake after Uber posted weaker-than-expected fourth-quarter earnings last week, but heralded what it claimed was a more than “$US1 trillion-plus opportunity” that autonomous vehicles could revolutionise rather than disrupt its business.
