(Reuters) – London’s public transport authority stripped Indian ride-hailing company Ola of its London operating licence, saying that the taxi app was not “fit and proper” to hold one, having put passenger safety at risk.
Bengaluru-based Ola entered the London taxi market in February this year. The market is dominated by rivals including Uber <UBER.N>, Freenow and Bolt, and traditional black cab drivers who previously blocked streets in protest at what they see as a threat to their livelihoods.
Transport for London (TfL) said in a statement that it refused to grant Ola, a Softbank-backed <9984.T> operator, a new London private hire vehicle (PHV) operator’s licence as it “cannot find it fit and proper to hold one after discovering a number of failures that could have risked public safety.”
TfL’s decision came days after Uber won a legal bid to restore its London operating licence, which was