Taiwan has blocked Uber Technologies’ planned takeover on anticompetition concerns, thwarting the U.S. company’s efforts to expand in Asia.

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

Taiwan has rejected ride-hailing giant Uber's plan to buy Delivery Hero's Foodpanda on the island, stating on Wednesday that the deal would significantly harm market competition.