Taiwan says set to order Uber to exit market
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Uber CEO Travis Kalanick speaks to students during an interaction at the Indian Institute of Technology (IIT) campus in Mumbai, India, January 19, 2016.
Reuters/Danish Siddiqui
Taiwan’s Investment Commission said on Wednesday it is set to order Uber Technologies Inc [UBER.UL] to exit the domestic market, saying the global ride-hailing giant misrepresented its business as an internet-based information technology platform rather than a transportation service.
The commission’s executive secretary Emile Chang said a final decision will be made by Aug. 11. The commission oversees Taiwan’s inbound and outbound foreign investments.
Uber officials in Taiwan could not be immediately reached for comment.
(Reporting by Faith Hung in TAIPEI and Yimou Lee in HONG KONG; Editing by Kenneth Maxwell)