Taiwan blocks Uber-Foodpanda merger over monopoly concerns

Quick Summary:

The US ride-hailing giant was aiming to acquire Foodpanda Taiwan by the first half of 2025 for US$950 million.

The union had argued that the merger would have created a monopoly and led to widespread losses for delivery riders, vendors and consumers.

The companies have also reached a separate agreement for Uber to buy US$300 million in newly issued ordinary shares of Delivery Hero, according to May's statement.

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Article Details

Category: EconomyBusiness

Markets: SingaporeTaiwan

Topics: Taiwan Market Industry Million Delivery Foodpanda Giant Deal Ride-hailing Uber Competition

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-25 @ 14:35:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 364 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 24660216

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 4 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 10 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Publisher ID: #27

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