Delivery Hero SE shares fell the most in two weeks in the first day of trading after Taiwan blocked the sale of its subsidiary there to Uber Technologies Inc.

Delivery Hero tumbled on Friday after the sale of its Taiwan subsidiary to Uber Technologies was blocked. The Taiwan Fair Trade Commission ruled that the proposed takeover of Foodpanda could reduce competition.

Taiwan’s anti-trust regulator rejected Uber Technologies Inc.’s plan to buy Delivery Hero SE’s Foodpanda business on the island for $950 million, arguing it would decrease competition in the fast-growing food-delivery industry.

M purchase of Delivery Hero’s (DLVHF) Foodpanda business over concerns it would be anti-competitive, Reuters reports. Delivery Hero said in a statement Uber may appeal the commission’s decision or terminate the acquisition.

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

Delivery Hero AG (ETR:DHER) shares fell sharply on Friday, marking their biggest decline in two weeks, after Taiwan blocked the sale of its local subsidiary to Uber Technologies (NYSE:UBER). Taiwan’s Fair Trade Commission found that Uber’s planned acquisition of Foodpanda could harm market competition.

The acquisition would have been one of Taiwan's largest outside of the chip industry, marking a retreat for Delivery Hero from Asia

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.