India, Oct. 21 -- Wednesday, Delivery Hero SE (DELHY.PK) announced that the Taiwan Fair Trade Commission has not issued approval for the sale of the foodpanda business in Taiwan to Grab Holdings Limited (GRAB) over competition concerns.
Earlier this year, the company signed an agreement to sell its business to Grab for $600 million on a cash-and-debt-free basis.
The company added that its right to appeal remains unaffected by the market regulator's decision.
Delivery Hero closed trading at $4.11, down 2.00 percent on the OTC Markets.
In the pre-market hours, GRAB was trading at $2.91, up 0.71 percent on the Nasdaq.
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