The talks with Bogota-based Rappi have centred on a potential acquisition of the business, said two people familiar with the situation. Delivery Hero called attention to its appetite for deals a week ago when it outlined plans to sell as much as 1.5 billion euros of convertible bonds. The money is intended "for general corporate purposes and to take advantage of attractive investment opportunities that may arise," the company said. Representatives for Rappi and Barcelona-based Glovo didn't immediately respond to requests for comment outside of regular business hours in Europe. Rappi was valued at US$2.5 billion in 2019 and soon after received a US$1 billion investment from SoftBank, making it one of Latin America's most valuable startups. Food delivery is a crowded industry, with little room for profits. There have been two megadeals since last month intended to position the companies to someday generate profits.