Taiwan has blocked Uber Technologies’ planned takeover on anticompetition concerns, thwarting the U.S. company’s efforts to expand in Asia.

Taiwan’s antitrust regulator rejected Uber Technologies Inc.’s plan to buy Delivery Hero SE’s Foodpanda business on the island for $950 million, arguing it would decrease competition in the fast-growing food-delivery industry.

Regulators in Taiwan blocked Uber's $950 million purchase of online food delivery and ordering platform Foodpanda.

Taiwan has blocked Uber Technologies’ $950 million purchase of Delivery Hero’s Foodpanda business because of concerns it would be anti-competitive

Taiwan has rejected ride-hailing giant Uber's plan to buy Delivery Hero's Foodpanda on the island, stating on Wednesday that the deal would significantly harm market competition.

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Taiwan's FTC blocks Uber's $950 million acquisition of Foodpanda, citing anti-competitive concerns over market dominance and reduced consumer choice.

Taiwan has rejected Ubers $950 million acquisition of Delivery Heros Foodpanda, citing concerns over anti-competitive effects and potential price hikes for consumers. The Fair Trade Commission said the merger would

Uber's $950 million acquisition of Foodpanda in Taiwan blocked by antitrust regulators, affecting both Uber Technologies (UBER) and Delivery Hero's (DHERO).

After Taiwan’s anti-trust regulator rejected Uber Technologies’ bid to acquire Delivery Hero’s Foodpanda, citing anti-competitive concerns, Bernstein reportedly said they remain unconvinced if Uber will win if it decides to appeal against the decision.