Regulators in Taiwan blocked Uber's $950 million purchase of online food delivery and ordering platform Foodpanda.

Uber Technologies (UBER) stock is lower today, after Taiwan blocked its acquisition of food delivery business foodpanda

Uber Technologies (NYSE:UBER) issued a statement on Thursday after the company's planned $950 million acquisition of Delivery Hero SE's (DHERO) Foodpanda business was blocked by Taiwan's Fair Trade Commission.

Taiwan has blocked Uber Technologies’ planned takeover on anticompetition concerns, thwarting the U.S. company’s efforts to expand in Asia.

Uber Technologies Inc’s plan to acquire Delivery Hero SE’s local Foodpanda business for US$950 million has been rejected, the Fair Trade Commission (FTC) said yesterday, citing anti-competitive concerns.

Taiwan has blocked Uber Technologies’ $950 million purchase of Delivery Hero’s Foodpanda business because of concerns it would be anti-competitive

TAIWAN has blocked Uber Technologies’ US$950 million purchase of Delivery Hero’s Foodpanda business on the island because of concerns it would be anti-competitive, the Fair Trade Commission (FTC) said on Wednesday (Dec 25).

Uber's $950 million acquisition of Foodpanda in Taiwan blocked by antitrust regulators, affecting both Uber Technologies (UBER) and Delivery Hero's (DHERO).

Uber Technologies Inc. said it remained committed to Taiwan after the island’s anti-trust regulator rejected its plan to buy Delivery Hero SE’s Foodpanda business on the island for $950 million.

Uber stock was lower after regulators in Taiwan blocked its plan to acquire a competitor in the market for $950 million.