Delivery Hero Falls 9% After Sale of Taiwan Unit to Uber Blocked [Yahoo! Finance]
Uber Technologies, Inc. (UBER)
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Source: Yahoo! Finance
day of trading after Taiwan blocked the sale of its subsidiary there to Uber Technologies Inc. Most Read from Bloomberg Ho Chi Minh City Opens First Metro Line After Years of Delay Shares of Delivery Hero fell as much as 9% to €26 in Frankfurt on Friday after the Taiwan Fair Trade Commission ruled the proposed takeover of Foodpanda could reduce competition. Uber had aimed to complete the $950 million deal by the first half of 2025. The acquisition would have been one of Taiwan's largest outside of the chip industry and marked a retreat for Delivery Hero from some Asian markets. Delivery Hero, which enjoyed a growth surge during the pandemic and expanded globally, has been cutting costs and restructuring its operations after a backlash from activist investors. This month it listed its Middle Eastern unit, Talabat Holding Plc, in Dubai in a $2 billion initial public offering that was the Gulf's biggest of the year. Delivery Hero, based in Berlin, said in a statement on Wedne
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