Bottom line: The departure of Ofo from 14 cities reflects growing frustration by local officials with bike sharing services, and could be followed by more expulsions until the industry consolidates to a single major player.

Ofo withdraws from 14 cities

The honeymoon seems to be rapidly ending for China's cash-rich shared bike services, with word that Ofo, one of the oldest players, is withdrawing from 14 cities in its bid to figure out what exactly it's doing. At the sam...