BERLIN (Reuters) -Negotiations on Berlin-based food ordering platform Delivery Hero’s sale of its foodpanda business in Taiwan to Uber Eats have fallen through for the time being, German business daily WirtschaftsWoche reported on Thursday.
According to WirtschaftsWoche, Delivery Hero had been negotiating with competitor Uber Eats in recent weeks about the sale before Uber Eats recently cancelled the advanced talks.
Delivery Hero declined to comment on the report.
Only last week, the company said it had ended talks for the potential sale of foodpanda in selected markets in Southeast Asia, including Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar and Laos, as parties failed to agree terms.
Delivery Hero has been trying to divest its loss-making Southeast Asian business in a wider effort to reach profitability while maintaining growth, as investor concerns regarding the company’s cash position grow.
(Writing by Miranda MurrayEditing by Madeline Chambers and Rachel More)
