By Najat Kantouar
Delivery Hero shares fell after Taiwan blocked Uber Technologies' planned $950 million takeover of Foodpanda's local delivery business on anticompetition concerns.
In early European trading, shares were down 7.7% at 26.38 euros. Year to date, shares have risen 5.5%.
On Wednesday, Taiwan's Fair Trade Commission raised concerns about the merger, saying it would make it difficult for other potential competitors to enter the market.
Uber said it was disappointed by the decision, and that it had previously made proposals to address Taiwan's competition concerns.
Delivery Hero, the Berlin-based owner of Foodpanda, said that Uber could appeal the decision or terminate the deal.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
12-27-24 0406ET