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Uber to acquire Foodpanda's Taiwan business for $950 million, creating a potential monopoly - TL;DR CNBC

Uber to acquire Foodpanda's Taiwan business for $950 million, creating a potential monopoly

Publishing timestamp: 2024-05-14 02:00:44


Summary

Uber Technologies to acquire Taiwan business of Delivery Hero-owned Foodpanda for $950 million in cash, as Foodpanda focuses on other markets. The deal is expected to close in the first half of 2025, subject to regulatory approval. Delivery Hero will also sell $300 million in newly issued ordinary shares to Uber. Taiwan's food delivery market is dominated by Foodpanda and Uber Eats.


Sentiment: NEUTRAL

Tickers: UBERDHER-DEDHER-FF

Keywords: delivery hero sebusiness newsuber technologies incasia economytechnologybreaking news: technologyfood and drink

Source: https://www.cnbc.com/2024/05/14/uber-to-acquire-foodpandas-taiwan-business-for-950-million-creating-a-potential-monopoly-.html


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