From RuntimeWire · RuntimeWire · · 40s
Taiwan Blocks Grab's $600M Foodpanda Deal
Taiwan's fair trade commission blocked grab from buying foodpanda's taiwan delivery business for $600 million, citing uber's 13.1% stake.
In brief
Taiwan's fair trade commission blocked grab from buying foodpanda's taiwan delivery business for $600 million, citing uber's 13.1% stake. Taiwan blocked grab's $600m foodpanda deal due to uber's 13.1% stake in the company. Originally reported by RuntimeWire.
Taiwan's Fair Trade Commission
Taiwan's fair trade commission blocked grab from buying foodpanda's taiwan delivery business for $600 million.
Citing Uber's 13.1% Stake
The deal would have taken grab beyond southeast asia for the first time, but the commission cited uber's 13.1% stake.
Why It Matters
The ruling shows a new buyer does not automatically count as a new competitor when ownership ties may weaken its incentives to compete with an incumbent.
What it means
Taiwan blocked grab's $600m foodpanda deal due to uber's 13.1% stake in the company.
