台湾公平会驳回 Grab 收购 Foodpanda 台湾业务，DigiTimes 晚间转述无新增事实

Grab Holdings' proposed acquisition of Delivery Hero's Foodpanda operations in Taiwan has been rejected by Taiwan's Fair Trade Commission (FTC). The commission made the announcement on October 21, blocking the deal on the grounds that it would restrict market competition. Grab issued a statement saying while it was disappointed with the decision, it will continue developing its core businesses in its existing Southeast Asian markets.

The proposed acquisition has drawn widespread attention. Although Grab repeatedly addressed concerns over issues including shareholdings and data security, the company ultimately failed to win the FTC's approval.
The commission cited four main reasons for rejecting the deal, with the ties between Uber Eats and Grab being the central concern.
The FTC pointed out that Taiwan's food delivery market is currently dominated by Foodpanda and Uber Eats, forming a duopoly. Grab intended to enter the Taiwan market by acquiring Foodpanda and become a major competitor to Uber Eats. However, the ownership ties between Grab and Uber, overlapping directorships, and history of commercial cooperation between Grab and Uber would reduce Grab's incentives and ability to compete with Uber Eats in Taiwan, potentially restricting competition.
The four main concerns identified by the FTC include reduced incentives for Uber Eats to compete aggressively, reduced incentives for Grab to compete aggressively, an increased risk of coordination stemming from the companies' past conduct and interactions, and a lack of countervailing forces to disrupt and sustain coordination.
The FTC emphasized that Taiwan's food delivery market is already highly concentrated, with network effects and high barriers to entry making it difficult for potential competitors to enter the market quickly.
Given these conditions, the FTC said Uber would need to further reduce its stake in Grab or fully divest its shares to reduce or eliminate the risk of coordination between Grab and Uber Eats following the acquisition.
Since Grab announced its plan to acquire Foodpanda, the company has offered commitments including diluting shareholdings, restricting Uber personnel from simultaneously servings as Grab directors, and limiting the exchange of competitively sensitive information. However, after review, the FTC rejected the proposal, citing concerns that they could not ensure effective implementation in practice or resolve competition concerns.
The FTC concluded that the deal's potential harm to competition outweighed its overall economic benefits and that the proposed measures were insufficient to eliminate competition concerns..
Grab has expressed disappointment with the FTC's decision. The company said that while it will not be able to bring its innovative services to Taiwanese consumers, delivery workers, and merchants, it emphasized that its core business in Southeast Asia remains strong.
Grab said it will continue investing capital and resources to advance its established growth plans and support the continued development of local communities across its Southeast Asian markets.