Woowa Brothers-Delivery Hero deal to get conditional OK
Founder and former CEO of Woowa Brothers Kim Bong-jin, left, answers staff questions at the company's headquarters in Songpa-gu, Seoul, last month. / Courtesy of Woowa BrothersBy Kim Jae-heunThe top antitrust regulator plans to grant “conditional approval” to Delivery Hero's $4 billion acquisition of Woowa Brothers ― the firm behind Seoul's most popular food delivery app.A condition is that the merged unit presents various “follow-up” measures to guarantee innovative activities.“The Fair Trade Commission (FTC) plans to grant a conditional approval of Delivery Hero's proposal to take over Woowa Brothers on the basis that the merged entity should help the relevant business segment create additional ecosystems utilizing its dominant position in the market,” a government official told The Korea Times, Friday. The official, who wished to remain anonymous, said the regulator plans to ask for specifics of the management of the merged unit in terms of “innovation” because the deal, if finalized, would put the entity in an indisputable position
