Taiwan regulator blocks Grab's purchase of Foodpanda delivery business in Taiwan
- TAIPEI: Taiwan's Fair Trade Commission said on Wednesday (Oct 21) it had blocked Grab's purchase of Delivery Hero's Foodpanda delivery business in Taiwan, citing competition concerns.
- Grab, Southeast Asia's biggest ride-hailing and delivery firm, said in March it would pay US$600 million in cash for the Foodpanda delivery business in Taiwan, in its first expansion outside the region.
- The Fair Trade Commission said the harm to competition from the proposed deal outweighed its overall economic benefits, and that the commitments offered by the companies were "insufficient to eliminate the competiti
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- TAIPEI: Taiwan's Fair Trade Commission said on Wednesday (Oct 21) it had blocked Grab's purchase of Delivery Hero's Foodpanda delivery business in Taiwan, citing competition concerns.
- Grab, Southeast Asia's biggest ride-hailing and delivery firm, said in March it would pay US$600 million in cash for the Foodpanda delivery business in Taiwan, in its first expansion outside the region.
- The Fair Trade Commission said the harm to competition from the proposed deal outweighed its overall economic benefits, and that the commitments offered by the companies were "insufficient to eliminate the competiti
Sources: CNA