Uber awaiting on London license renewal decision | Smart Highways Magazine: Industry News

Uber awaiting on London license renewal decision

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American multinational transportation network company Uber is awaiting the decision on its license in London.    

Transport for London (TfL) previously did not renew Uber’s license meaning it will expire on the 25th of September.

According to Reuters a question put to London Mayor Sadiq Khan from a member of the city’s assembly about the license renewal is still awaiting a reply.

Reuters reports that among TfL’s options are to give Uber a maximum five-year license, a shorter one, or to strip the firm of its ability to operate which would almost certainly prompt an appeals process during which Uber would still be able to take rides.

Benjamin Black, Co-Head of Internet Equity Research at analysts Evercore ISI, told Reuters, “If they lost the London license, that would be a major blow… but we just don’t see it happening.”

“Is there going to be another 15-18 month renewal or is it going to be five years? Judging by (ride-sharing firm) Ola coming in and getting a 15-month license, I think they’re going to be on the shorter cycles,” added Black.

 
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