Uber Terminates Deal to Buy Delivery Hero’s Taiwan Business
- Taiwan’s antitrust regulator blocked the deal in December
- Uber not appealing; to pay termination fee of $250 million
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Uber Technologies Inc. has terminated its deal to acquire Delivery Hero SE’s Foodpanda business in Taiwan, after the island’s antitrust regulator rejected it in December.
Uber is required to pay a termination fee that is estimated to be about $250 million, Delivery Hero said in a statement Tuesday. In a separate statement to Bloomberg News, an Uber spokesperson reiterated the company’s disappointment about the regulator’s ruling, but said it respects the decision and will not be pursuing an appeal.