S Korean restaurant owners express concern over $4b Delivery Hero deal

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.

Delivery Hero, the second-largest food delivery app operator in South Korea, said last month that it agreed to buy larger rival Woowa Brothers backed by Goldman Sachs in a deal subject to antitrust approval.

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