Taiwan kills Grab’s US$600M foodpanda deal, and Uber’s shadow is the reason
Grab wanted Taiwan to be its first market outside Southeast Asia. Taiwan’s competition regulator has told it, in effect, that it is not really an outsider. Taiwan’s Fair Trade Commission (TFTC) on Wednesday blocked Germany-based Delivery Hero’s planned sale of foodpanda’s Taiwan business to Grab, scuttling a US$600 million all-cash deal agreed on March 23. […] The post Taiwan kills Grab’s US$600M…
Grab sought to be the first non-Southeast Asian market for Taiwan's foodpanda. However, Taiwan's Fair Trade Commission prevented Germany-based Delivery Hero from selling foodpanda's Taiwan business to Grab for US$600 million. The commission determined that the deal would harm competition. Delivery Hero plans to appeal the decision.
Grab expressed disappointment, arguing that the ruling prevents it from offering new services, better earning opportunities, and improved service standards to Taiwanese consumers. This is the second time in under two years that Taipei has blocked a foodpanda Taiwan sale; in December 2024, the regulator stopped Uber's roughly US$950 million bid due to the combined entity controlling more than 90% of the market.
Uber has a 13.1% stake in Grab and was previously on its board. The commission's concerns include Uber potentially benefiting from Grab's profits, changes to Grab's incentives, and the close coordination between Uber and Grab in other markets. The ruling may impact Grab's future acquisitions and strategies in Taiwan and Southeast Asia.
Written by urgent.news from e27's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
