TAIPEI (Taiwan News) — The Fair Trade Commission said Thursday it still needed to receive additional information before it could start the review of Singapore-based app platform Grab’s bid to buy Foodpanda’s Taiwan delivery business.
Grab announced in March it planned to spend US$600 million (NT$18.92 billion) in cash to buy the food delivery business before the end of 2026, with integration expected to be completed in early 2027. The FTC turned down an attempt by Uber to take over Foodpanda in 2024.
Acting FTC Chair Chen Chih-min (陳志民) said Thursday that Grab had first filed documents on March 27, per CNA. However, the review of the case could only begin after the company had supplied additional information, Chen said.
As Uber owned 13% of the shares in Grab, critics suggested the deal would amount to an indirect way for Uber to assert control over Foodpanda Taiwan. Chen said the FTC would study the matter, but as there was no law barring international shareholding, there needed to be concrete evidence that a company had previously used the formula to restrict competition.
Lawmakers voiced concern Thursday that the FTC review would focus too much on market share and not enough on the rights of employees and consumers. Chen said the Ministry of Labor will study labor concerns, while the FTC will review the impact on market competition.
The process will take 30 working days, but can be extended to a maximum of 90 days, according to Chen. He added there was no deadline for Grab to file the necessary documents, but once they were complete, the FTC would launch its review, CNA reported.
