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Delivery Hero shares drop 9% after Taiwan blocks Uber deal
Delivery Hero SE, based in Germany, saw its shares decline by up to 9% to 26 euros (US$27.82) during trading on Friday in Frankfurt.
This drop followed Taiwan’s decision to block the sale of its local subsidiary, Foodpanda, to Uber Technologies Inc.
Taiwan’s Fair Trade Commission ruled that the proposed US$950 million acquisition could harm competition in the local market.
The sale would have represented another divestment for Delivery Hero in Asian markets.
Recent Delivery Hero developments
| Timeline |
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13-Dec-2024 📉 Delivery Hero’s food delivery shares drop on market debut
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03-Dec-2024 🚴♂️ Delivery Hero’s food delivery app to employ 15k drivers in Spain
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28-Nov-2024 📈 Delivery Hero’s food delivery IPO rises to $2b
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11-Nov-2024 📈 Delivery Hero’s food delivery service plans $1b IPO
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22-Feb-2024 🍔 Delivery Hero ends talks on potential sale of Foodpanda
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