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

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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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