Fair Trade Commission blocks Grab’s acquisition of foodpanda｜Formosa English News

Bilingual text here: https://english.ftvnews.com.tw/news/2026A21W06EA?utm_source=youtube&utm_medium=description 雙語文字版: https://english.ftvnews.com.tw/news/2026A21W06EA?utm_source=youtube&utm_medium=description Our official website: ➔ https://english.ftvnews.com.tw/ Follow us on Facebook: ➔ https://www.facebook.com/ftvformosanews X (Twitter): ➔ https://x.com/FTV_Taiwan_News Taiwan’s Fair Trade Commission has said "no" to Grab’s acquisition of foodpanda in Taiwan. The proposal was announced back in March, with Singaporean delivery giant Grab set to buy foodpanda for nearly NT$20 billion. Ultimately the merger was blocked after a majority of commissioners determined that it would weaken competition in the industry. Let’s hear more. Hsin Chih-chung Fair Trade Commission The merger would have seen Grab take over foodpanda’s delivery business in Taiwan. But Uber, the parent company of Uber Eats, holds a 13.1% stake in Grab, and the two companies have close business ties in other markets. After evaluating Grab’s proposal to acquire foodpanda, the majority of commissioners said it should be stopped. Su Po-hao Delivery Industry Rights Alliacne We would like to thank the Fair Trade Commission for making the right decision. Foodpanda is the market leader in Taiwan. When has anyone ever seen the top company in any industry pull out of a market? If it actually does come down to that, we’ll ask the Commission to consider implementing the relevant measures. Had the merger gone forward, Grab would have become Uber Eats’ main competitor. But the close ties between Uber Eats’ parent company, Uber and Grab, raised concerns that could impact fair competition. Regulators said both companies would have shared interests and neither would be motivated to lower prices. There could be a risk of coordination to maintain the status quo, which would also make it harder for new competitors to enter the market. During the review, Grab suggested several steps to minimize concerns, such as diluting Uber’s shareholding and placing limitations on board appointments. But the FTC says the measures would be difficult to implement, unless Uber completely divested its stake in Grab. For more Taiwan news, tune in: Mon to Fri at 9:30 pm on Channel 152 Tue to Sat at 1 am on Channel 53 #uber #foodpanda #ubereats #delivery #taiwan #台灣新聞 #FormosaEnglishNews #民視新聞 #FTV新聞 #Taiwan