Meituan confirms not buying Foodpanda, Grab’s shares may stabilize

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Meituan confirms not buying Foodpanda, Grab’s shares may stabilize

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Meituan, the largest food delivery platform in China, said it is not acquiring Foodpanda. According to DBS Group Research, this confirmation has alleviated concerns about Grab’s share price.

Grab’s shares fell by 10% over the past two weeks amid rumors of the acquisition.

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