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Uber Terminates Deal to Buy Delivery Hero’s Taiwan Business
Uber Technologies Inc. has terminated its deal to acquire Delivery Hero SE’s Foodpanda business in Taiwan, after the island’s antitrust regulator rejected it in December.
Uber is required to pay a termination fee that is estimated to be about $250 million, Delivery Hero said in a statementBloomberg Terminal Tuesday. In a separate statement to Bloomberg News, an Uber spokesperson reiterated the company’s disappointment about the regulator’s ruling, but said it respects the decision and will not be pursuing an appeal.
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