Ride-hailing group is ‘one of the best managed and highest quality businesses in the world’, activist investor says.

The hedge fund manager said his fund began buying Uber shares in early January and has amassed 30.3 million shares, worth $2.3 billion.

Uber stock hit its highest level since October after Ackman disclosed his Pershing Square hedge fund accumulated a 1.4% stake in the ride hailer.