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 has decided terminate its agreement to acquire Delivery Hero's Foodpanda business in Taiwan and will pay a termination fee of around $250 million, the food delivery company said on Tuesday. Taiwan had in February blocked Uber's $950 million purchase of Delivery Hero's Foodpanda business on the island because of concerns it would be anti-competitive.

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