Uber’s global retreat continues as it pulls out of Macau

Uber

Uber is in a global retreat right now.

The company will suspend its operations in the former Portuguese territory of Macau from 22 July as it could “not secure a business environment” to “unlock the full benefits of ride-sharing”.

Uber, in its official website, said it was exploring ways to serve the Chinese-controlled territory again and had started talks with business partners, including transport operators and hotels.

The company had been operating in Macau since late 2015.

The news comes a few days after Uber announced it would cede control of Russia and several surrounding markets to search giant Yandex. The two companies will merge their ride-sharing operations, with Yandex controlling around 59%, and Uber about 37%.

Uber didn’t give more detail on why it had pulled out of Macau. But last year, the company also had to pull out of neighbouring China. Uber China merged with its biggest rival, Didi Chuxung, for $35 billion last August.

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