SEOUL - South Korean restaurant owners expressed concern on Monday over food delivery giant Delivery Hero’s proposed $4 billion acquisition of its local rival, saying the move could undermine competition and lead to higher fees.
The combination of the two giants would create an entity with a combined market share of nearly 99% in food delivery apps, according to data from mobile big data platform IGAWorks. Restaurant owners, food delivery riders and lawmakers urged the fair trade commission to thoroughly review the potential merger, which they said could also limit consumer choices.
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