Taiwan’s Fair Trade Commission blocked Uber‘s (UBER) $950M purchase of Delivery Hero’s (DLVHF) Foodpanda business over concerns it would be anti-competitive, Reuters reports. Delivery Hero said in a statement Uber may appeal the commission’s decision or terminate the acquisition. “In the food delivery platform market, UberEats’ main competitive pressure comes from Foodpanda. The merger would eliminate this competitive pressure,” Chen Chih-min, vice chairman of Taiwan’s FTC, said, according to Reuters.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UBER:
- M&A News: Taiwan Blocks Uber’s Foodpanda Acquisition on Competitive Concerns
- Lyft (NASDAQ:LYFT) Battles San Francisco over $100M Tax Dispute
- The Stars Have Aligned for a Rebound in Uber Stock in 2025
- Why UBER Wins and LYFT Lags as Waymo Shakes Up the Ridesharing Industry
- Robotaxi concerns create buying opportunity for Uber shares, says Oppenheimer