Bill Ackman said Pershing Square started acquiring a position in Uber Technologies (UBER) in early January and currently owns 30.3 million shares, Bloomberg reported Friday.
"We believe that Uber is one of the best managed and highest quality businesses in the world," Ackman said, according to the report. "Remarkably, it can still be purchased at a massive discount to its intrinsic value."
Shares of Uber were up 7.5% around midday.
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