Reported 1 day ago
Taiwan's Fair Trade Commission has blocked Uber's $950 million acquisition of Foodpanda, citing concerns that the merger would harm competition in the food delivery market. The FTC argued that the merger would reduce competitive pressure on UberEats from Foodpanda, potentially leading to higher prices and commissions for consumers and restaurant operators. The combined market share of the two companies would exceed 90%, raising further concerns about anti-competitive practices.
Source: YAHOO