TAIPEI, Dec 25 — Taiwan has blocked Uber Technologies' US$950 million (RM4.26 billion) purchase of Delivery Hero's Foodpanda business on the island because of concerns it would be anti-competitive, the country's Fair Trade Commission (FTC) said today.
Uber and Foodpanda did not immediately respond to requests for comment outside regular business hours.
In a statement, Delivery Hero said Uber may either appeal the commission's decision or terminate the acquisition.
In a media briefing, the commission said the merger's negative impact would outweigh the overall economic benefits, and corrective measures would not be able to address the competition concerns.
"In the food delivery platform market, UberEats' main competitive pressure comes from Foodpanda. The merger would eliminate this competitive pressure," said the FTC's vice chairman Chen Chih-min.
— Reuters
