LABOR CONCERNS:
Delivery workers protested outside the commission’s office urging the regulator to reject the acquisition over concerns it would stifle competition
The Fair Trade Commission (FTC) yesterday extended its review of Grab Holdings Ltd’s proposed acquisition of Delivery Hero SE’s Foodpanda business in Taiwan to Oct. 27, saying more time was needed to assess the potential impact of Uber Technologies Inc’s 13 percent stake in Grab on competition. In accordance with the Fair Trade Act (公平交易法), the commission extended the review period by 60 working days, moving the deadline from Wednesday next week to Oct. 27, it said in a statement. The commission said that questions remain over whether Uber’s stake and 3.7 percent voting rights in Grab could affect Uber Eats’ and Grab’s “incentive and ability” to compete after the acquisition.
Delivery workers protest outside the Fair Trade Commission’s office in Taipei yesterday.
Therefore, “further analysis” is needed to determine the deal’s impact on competition in Taiwan, it said. Uber Eats and Foodpanda are Taiwan’s two leading food delivery platforms.
