Taiwan's Fair Trade Commission (FTC) announced on Wednesday that it is extending its review of Grab Holdings' proposed acquisition of Foodpanda's Taiwan operations by 60 working days, pushing the deadline to October 27. The commission stated it requires more time to evaluate the potential impact on market competition, particularly noting that Uber, a Foodpanda rival, holds a 13% stake in Grab.
The decision followed a protest by delivery workers outside the FTC's office who raised concerns that the deal could create a de facto monopoly. Grab had announced its intention in March to purchase the food delivery business for $600 million in cash. The extension introduces a significant delay and uncertainty for the planned acquisition.