The plan for Uber Technologies to acquire Foodpanda, a subsidiary of Delivery Hero SE (DHERO), for 0.95 billion dollars has been rejected by the Fair Trade Commission of Taiwan, China.
According to Zhitong Finance APP, Uber Technologies (UBER.US) officially announced on Thursday that its planned acquisition of Delivery Hero SE (DHERO)'s Foodpanda business for $0.95 billion has been rejected by the Fair Trade Commission of Taiwan, which has deeply disappointed Uber. Uber firmly believes that this acquisition would have brought significant benefits and welfare to delivery partners, business partners, a large number of consumers, and even the entire economy of Taiwan.
Since the announcement of the acquisition plan, Uber has maintained active communication and interaction with relevant regulatory agencies in Taiwan, and has proposed multiple additional conditions aimed at eliminating the concerns and worries of the regulators. However, despite many efforts, Uber was still unable to complete the acquisition as hoped.
Despite this setback, Uber has not abandoned its development in Taiwan. The company emphasized that Taiwan remains one of the highest growth markets globally with abundant delivery opportunities. Therefore, Uber will continue to invest in Taiwan, promote business innovation and development, and inject more vitality into the Taiwanese market.
Looking ahead, Uber is optimistic about its financial situation in 2025. The company estimates that its revenue for the fiscal year 2025 will reach $50.97 billion, and free cash flow will reach $7.7 billion. At the same time, Analysts also predict that Uber's EPS will achieve a growth of 22.4% in 2025, reaching $2.31.
In terms of the stock market, Uber's stock price experienced a slight decline of 0.20% in pre-market trading on Thursday, falling to $61.80. However, this price still falls within the price range for Uber over the past year, which is between $54.84 and $87.00.