Taiwan’s anti-trust 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.

Uber Technologies (UBER) stock is lower today, after Taiwan blocked its acquisition of food delivery business foodpanda

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