Uber will end operations in Colombia on January 31, CNBC reported.
Colombian authorities ordered Uber to cease operations of its ride-hailing service after a judge sided with the country’s competition authority, which claimed the company broke market rules, Reuters reported in December.
Taxi drivers had protested Uber and other services, Reuters previously reported, claiming the services had an unfair advantage due to a lack of regulation requiring them to pay the same fees to which traditional cabs are subject.
Uber appealed the ruling, though it did not ban its other divisions, like its delivery service Uber Eats. Uber called the Colombian regulator’s decision “arbitrary,” in a statement on its end to operations translated from Spanish.
While Colombia only represents a market of around 2 million riders and 88,000 drivers, Uber’s decision to abandon its operations there shows the impact regulation can have on its services. In November, London’s transport regulator stripped Uber of its license to operate. Uber stated at the time it had 3.5 million riders and 45,000 drivers in that market and has appealed the decision.
Full Content: CNBC
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