Taiwan blocks Grab's US$600M foodpanda deal over Uber ties
Briefing by News4U · First published
Taiwan's FTC rejected Grab's US$600 million acquisition of foodpanda Taiwan, citing Uber's 13.1 percent stake in Grab and competition concerns.
Taiwan's Fair Trade Commission on Wednesday rejected Grab Holdings Ltd.'s proposed US$600 million acquisition of foodpanda's Taiwan operations, citing concerns that Grab's ownership ties with Uber could undermine competition in the country's food delivery market, Focus Taiwan reported. [1]
Three commissioners voted to block the deal and one favored conditional approval. Grab expressed disappointment, saying the decision would prevent it from introducing innovative services for consumers, delivery workers and merchants in Taiwan. [1]
Delivery worker groups welcomed the decision. National Delivery Industrial Union Chairman Arery Chen said reduced competition could give dominant operators greater influence over pay and fees. [1]
Sources
- Taiwan blocks Grab's US$600M foodpanda deal over Uber ties
Focus Taiwan · · Excerpt