Uber terminates Foodpanda Taiwan acquisition, citing regulatory hurdles

Core Insights - Uber Technologies has terminated its acquisition of Delivery Hero's Foodpanda in Taiwan due to antitrust concerns raised by Taiwan's Fair Trade Commission, which indicated that the deal would increase Uber's market share to 90% [1][2] - Foodpanda currently holds a 52% market share in Taiwan's food delivery market, while Uber Eats has 48%, indicating a highly competitive landscape [2] - Uber is required to pay a termination fee of approximately USD $250 million as part of the deal's cancellation [2] Company Developments - The acquisition was initially expected to be completed in the first half of 2025, aligning with Uber Eats' strategy to expand in Asia, particularly in Taiwan [3] - Delivery Hero is withdrawing from the Southeast Asian market, having previously attempted to sell its operations in several countries, including Singapore and Malaysia, but ultimately decided to terminate those negotiations [4] - Foodpanda has undergone layoffs to streamline operations ahead of the potential sale, following previous staffing reductions in 2022 and 2023 [5]