Delivery Hero Falls 9% After Sale of Taiwan Unit to Uber Blocked [Yahoo! Finance Canada]
Uber Technologies, Inc. (UBER)
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Source: Yahoo! Finance Canada
trading after Taiwan blocked the sale of its subsidiary there to Uber Technologies Inc. Most Read from Bloomberg 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 Wednesday that Uber may now appeal or opt to walk away. Uber said in a stat
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