FRANKFURT (dpa-AFX) - Shares in Delivery Hero significantly extended their gains on Wednesday following a report on a possible partial sale of the Asian business. Most recently, the shares of the food delivery company rose 8.6 percent to 32.36 euros to top the MDax mid-cap index.

According to "Wirtschaftswoche," Delivery Hero is in advanced talks to sell its activities under the Foodpanda brand in Singapore, Cambodia, Malaysia, Myanmar, the Philippines and Thailand.

A buy recommendation from Hauck & Aufhäuser Investment Banking had previously further stabilized Delivery Hero. In the previous week, they had still fallen to the lowest level since May 2022 at 28.64 euros. Analyst Christian Salis trusts them in his study prospectively a return to 65 euros. JPMorgan also expressed optimism, analyst Marcus Diebel confirmed his "Overweight" rating with a price target of 57 euros./niw/jha/