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.

Regulators in Taiwan blocked Uber's $950 million purchase of online food delivery and ordering platform Foodpanda.

Taiwan has rejected Uber Technologies Inc.’s plan to acquire Delivery Hero SE’s Foodpanda local business for $950 million, the official Central News Agency reported.

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.

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.

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.