BERLIN (dpa-AFX) - The food delivery service Delivery Hero has suffered a setback in Taiwan. The local competition authority TFTC will not approve the sale of the Food Panda business in Taiwan, which was announced in May, the company announced over the Christmas holidays. The US ride-hailing and delivery service Uber had wanted to acquire the business in a multi-stage deal for just under one billion US dollars.
The Americans had also planned to purchase a small stake in Delivery Hero. Uber can appeal against the TFTC's decision or terminate the transaction, the press release added./he