Uber Technologies Inc. has cancelled its plan to acquire Delivery Hero SE’s Foodpanda business in Taiwan after the island’s antitrust regulator rejected the deal in December.

The decision requires Uber to pay a termination fee of approximately US$250 million, according to Delivery Hero’s statement on Mar.11.

An Uber spokesperson expressed disappointment with the regulator’s ruling.

However, they confirmed the company respects the decision and will not file an appeal.

The spokesperson also said that Uber remains committed to its operations in Taiwan. They promised to continue serving consumers, merchants, and delivery partners.

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