After Taiwan’s anti-trust regulator rejected Uber Technologies’ bid to acquire Delivery Hero’s Foodpanda, citing anti-competitive concerns, Bernstein reportedly said they remain unconvinced if Uber will win if it decides to appeal against the decision.

Taiwan's Fair Trade Commission (FTC) has halted Uber Technologies' proposed $950m acquisition of Delivery Hero's Foodpanda operations, citing concerns over potential anti-competitive effects in the market.

TAIPEI (Taiwan News) — Taiwan's FTC announced it will block the merger between Uber Eats and Foodpanda on Wednesday, citing concerns about market overconcentration. Uber Eats had announced on May 14 its plans to acquire Foodpanda, per CNA. The company submitted the necessary information for review to the FTC on Nov. 8.