Delivery Hero remains confident of persuading the Korea Fair Trade Commission (KFTC) to approve its acquisition of Woowa Brothers without selling its food delivery player Yogiyo, reported the Korea Times.
The antitrust watchdog recently sent an examiner’s report to Delivery Hero’s headquarters in Germany, requesting the divestment of Yogiyo as a condition of its approval of the Woowa Brothers takeover. However, the German firm made it clear it will not comply.
“We do not agree with the KFTC’s recommendation to sell off our food delivery player and we will object during the antitrust watchdog’s commissioners’ meeting on Dec. 9,” a Delivery Hero official said. “We are confident that we can persuade the commissioners to approve our acquisition of Woowa Brothers.”
Delivery Hero will emphasize three points in its bid to convince the KFTC. First, it believes preventing the combination of the two firms will limit customers’ opportunities to enjoy better services.
“When we merge with Woowa Brothers, we will provide unprecedented service to all restaurant owners, deliverymen and our customers, which will benefit local communities,” the official said.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI