UBER announced on Tuesday a $1.25 billion deal to take over Delivery Hero's foodpanda business in Taiwan and buy new shares in the German firm in a deal that would boost liquidity of the delivery specialist grappling with rising competition in Asia.
Asia has become Delivery Hero's biggest market after its $4 billion deal in South Korea in 2019 but the company has been trying to divest some of its assets in the region to improve profitability.
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