Taiwan Blocks Uber Delivery Deal

Taiwan has blocked Uber Technologies' planned $950 million takeover of Foodpanda's local delivery business on anticompetition concerns, thwarting the U.S. company's efforts to expand in Asia.

- KIMBERLEY KAO

Taiwan's Fair Trade Commission said Wednesday that competition pressure on Uber's food-delivery unit in Taiwan stems mainly from Foodpanda, and that eliminating that dynamic would incentivize Uber to raise prices for consumers and eateries on its platform.

The merger also would make it more difficult for other potential competitors to enter the market, the agency said.