Discussions for Grab to buy FoodPanda's business operations in the Southeast Asia region are now reported to have not continued. According to Business Times, the two parties did not agree on the final price, thus making the discussion not continue.
It is said that FoodPanda's selling price is too high, and Grab is now on target to achieve profitability. This at the same time made the discussion of both parties not continue.
However, touching on it, Delivery Hero, the parent company of FoodPanda stated that the discussion to sell the FoodPanda business is still in process - without saying who is among the potential parties in buying it.
Previously, according to an independent study conducted, it was found that Grab has a market share of around 65% in Malaysia, far ahead of FoodPanda which has a share of around 30%.
Tags
BUSINESS & MONEY