Uber Disappointed as Taiwan Rejects Deal for Delivery Hero Unit
- Fair Trade Commission concerned deal would limit competition
- Uber had sought Delivery Hero’s Foodpanda unit in Taiwan
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Uber Technologies Inc. said it remained committed to Taiwan after the island’s anti-trust regulator rejected its plan to buy Delivery Hero SE’s Foodpanda business on the island for $950 million.
Uber said in a statement that it’s disappointed by the decision, but will continue to invest in Taiwan as one of the world’s fastest-growing food-delivery markets. It didn’t mention any plans for an appeal. Delivery Hero, based in Berlin, said in a statement that Uber may now appeal or opt to walk away.