London deprived Uber taxi license

London refused to extend the taxi license Uber service, Bloomberg said . The regulator (Transport for London, TFL) saw the “System failures” in the security policy that threatened the security of passengers and decided that the company did not meet its requirements.

Quote. “Recognizing that Uber has achieved some improvements, we cannot admit acceptable the fact that Uber allowed taxi drivers who could not have licenses and insurance,” the director of TFL for licensing Helen Chapman.

• London is one of the world's largest markets for a taxi operator: he has 45,000 drivers.
• On news, the company's quotes fell by almost 6% before the opening of the auction.
• The decision of the regulator does not mean stopping either the application or transportation: Uber will have 21 days for appeal and eight months before the decision of the appeal instance.
• Uber technically lost a license in London back in 2017. But she was extended several times, the last time - in September - for only two months. The reason for the current decision of the regulator is 14,000 trips “dropped” when ordering for outsiders.
• This is another blow to Uber plans to get out of losses. August 8 announced losses of $ 5.2 billion - this is a record in 2017, when it began to disclose reports. Uber shares from this day fell by almost a third, capitalization fell to $ 50 billion.