Uber Technologies Inc. has terminated its deal to acquire Delivery Hero SE’s Foodpanda business in Taiwan, after the island’s antitrust regulator rejected it in December.Uber is required to pay a termination fee that is estimated to be about $250 million,

Uber Technologies Inc (UBER) shares traded nearly 1% higher in Wednesday’s pre-market session despite the company deciding to terminate the agreement to acquire Delivery Hero’s Foodpanda business in Taiwan.

Uber Technologies has ended its acquisition of Delivery Hero’s Foodpanda in Taiwan, the Germany-based tech firm said on Tuesday. The announcement comes