TAIPEI (Taiwan News) — Taiwan's FTC announced it will block the merger between Uber Eats and Foodpanda on Wednesday, citing concerns about market overconcentration.

Uber Eats had announced on May 14 its plans to acquire Foodpanda, per CNA. The company submitted the necessary information for review to the FTC on Nov. 8.

The FTC decided on Dec. 9 to extend its review, warning the merger could stifle competition due to the potential for market overconsolidation. The commission rejected the merger on Wednesday morning.

While Uber proposed binding commitments and collateral conditions to address these concerns, the FTC concluded that the merger would harm competition.

The National Delivery Industry Union organized a protest against the merger outside the Executive Yuan on Dec. 2, per CNA. The union expressed concerns about the dominance of the two firms, which control 90% of the market share.