Dec 25 (Reuters) - Taiwan has blocked Uber Technologies' ( UBER )

$950 million purchase of Delivery Hero's

Foodpanda business on the island because of anti-competition

concerns, Taiwan's official Central News Agency (CNA) reported

on Wednesday.

Uber ( UBER ), Delivery Hero and Foodpanda did not immediately

respond to requests for comment outside regular business hours.

Taiwan's Fair Trade Commission declined comment but said

it will provide an explanation at a press conference at 5 p.m.

(0900 GMT) in Taipei.

CNA did not say where it obtained the information.

Uber ( UBER ) and Delivery Hero

announced

the Taiwan deal in May, which also included a separate

agreement for Uber ( UBER ) to purchase $300 million worth of newly

issued shares of the German food delivery firm.

The U.S. company expected the acquisition to contribute

at least $150 million annually to the adjusted core profit of

its delivery business within a year of the deal's closing, which

was seen likely in the first half of 2025.

Online food delivery platforms represent a small

fraction of Taiwan's competitive food delivery market, but

Foodpanda's operations on the island were break-even in terms of

adjusted core earnings for the 12 months ended March 31, 2024,

the companies said.