TAIPEI (TVBS News) — The Fair Trade Commission (FTC, 公平會) on Wednesday (Dec. 25) blocked Uber Eats' acquisition of foodpanda in Taiwan, citing significant competition concerns in the nation's food delivery industry. Uber submitted comprehensive documentation for the acquisition on Nov. 8, initiating the review process. By Dec. 9, the FTC had already expressed concerns about the potential increase in market concentration, labeling the case as a significant issue of public interest.
Although they extended the review period, the commission reached a decision during a meeting this morning to prohibit the merger. Uber Eats announced its intention to acquire the food delivery service on May 14, setting off a wave of industry speculation. The commission's decision reflects its apprehension about increased market concentration following the merger.
Uber had expressed readiness to present binding commitments and conditions to the commission, aiming for a mutually beneficial outcome for Taiwan. However, the FTC ultimately determined that the competition concerns were too substantial to approve the merger.
