BOGOTA (Reuters) – Uber Technologies Inc (UBER.N) resumed transporting passengers in Colombia on Thursday with a new service model that allows users to rent cars with drivers, just 20 days after it exited the Andean country following a ruling by regulators which the company described as arbitrary.
FILE PHOTO: A screen displays the company logo for Uber Technologies Inc on the day of its IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid
The Superintendency of Industry and Commerce (SIC), which regulates fair competition and protects consumers, in December ruled Uber had violated competition rules.
Uber said on Feb. 3 it was considering taking the ruling to international arbitration, noting that it violated a U.S.-Colombia trade deal and that damages from suspending its service could exceed $250 million.
“We have looked for new alternatives to keep working and help connect people in the country and also to respond to the support…
Source Reuters Tech News