Uber Technologies has eliminated the acquisition of a Delivery Hero’s Food Panda in Taiwan, a German -based tech firm. Said on Tuesday.
Announcement has come out almost three months later Taiwan’s Anti -Trust Regulator Blocked this agreement, referring to Competitive issues. The Fair Trade Commission (FTC) said that if Uber receives food panda, its market share in Taiwan will be 90 %, which will potentially increase Uber prices.
Uber eats and food pandas are Superior player In Taiwan’s food delivery market. In a recent report, it was found The food panda enjoyed 52 % market share from January 2022 to August 2023, while Uber Ates was 48 %. Food delivery companies like Foodomo and many other fast food delivery apps are a small percentage of Taiwan’s market share, which is relatively. Yes.
Under the agreement signed on May 14, 2024, Uber needs to pay a suspension fee, which is estimated at about $ 250 million.
Uber and Delivery Hero did not immediately respond to the Tech Crunch request for comment.
When Ober Announced It will buy the Taiwan Division of Food Panda from the delivery hero, which will complete the contract in the first half of 2025. The move was linked to the Uber Ets Development Plan in Asia, especially by strengthening its presence in Taiwan. The two companies were also engaged in a separate deal in which Uber agreed to buy a newly released common shares of $ 300 million from the delivery hero.
The deal also highlighted the continued highlight of the delivery hero’s withdrawal from the same market. At that time, the delivery hero was trying to sell a package of his other Southeast Asian operations – including Singapore, Cambodia, Laos, Malaysia, Myanmar, Philippines and Thailand – to an unknown third party. In September 2023, it Eliminated these discussionsIn a statement, “the decision to end the talks after months of talks was taken after a careful consideration.”
The Delivery Hero’s Food Delivery Division confronted the grub in Southeast Asia.
In September, its Foodpanda Unit A pit ..i demonstrated Possible sales have to smooth operations. In 2022 and 2023, the staff’s holiday was after the deductions.