In May, Taiwan’s Foodpanda food delivery business was acquired by Uber for $950 million (~RM 4.26 billion). Delivery Hero, the parent company of Foodpanda and Uber, had hoped to complete the acquisition by H1 2025. But today, Taiwan’s Fair Trade Commission (FTC) has blocked the acquisition because it would harm consumers.
If the acquisition is approved, FoodPanda and UberEats will have a share of over 90% of the food delivery market in Taiwan. This would allow them to increase prices and commissions to sellers, while also impacting consumers who have no other alternatives.
Delivery Hero has issued a statement saying they may appeal to the FTC or simply cancel the purchase agreement with Uber.
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BUSINESS & MONEY