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Taiwan blocks Uber's acquisition of Foodpanda, citing competition concerns in the food delivery market.
Taiwan's Fair Trade Commission has blocked Uber's $950 million acquisition of Foodpanda Taiwan, citing concerns over market competition.
The deal would have merged the top two players in Taiwan's food delivery market, potentially giving them over 90% market share.
Despite Uber's claims, the commission determined that no measures could ensure fair competition post-merger.
This decision has been welcomed by Taiwan's delivery trade union.
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Taiwán bloquea la adquisición de Foodpanda por Uber, citando preocupaciones de competencia en el mercado de entrega de alimentos.