BUZZ-Delivery Hero slumps as Taiwan halts Foodpanda deal
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Shares of Delivery Hero (DHER.DE) dropped nearly 14% in early trading after Taiwan's Fair Trade Commission blocked its sale of Foodpanda to Uber, citing concerns over reduced competition. Uber had planned to acquire Foodpanda in Taiwan and invest $300 million in DHER shares. The decision is viewed negatively as DHER intended to use the proceeds for bond buybacks. Uber may appeal or terminate the deal, according to DHER's statement. The stock is currently at the bottom of Germany's mid-cap index.
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