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Uber shares hit after losing license to operate in London over safety fears

November 25, 2019

Uber shares fell by 6% in premarket trading after global ride-hailing app was stripped of its London license.

The company lost its license to operate in England’s capital city on Monday after the transport regulator discovered more than 14,000 journeys had been taken with uninsured drivers.

London is Uber’s UBER, -4.67% biggest market in Europe and key to the company’s top line. It has said it will appeal the ruling and is allowed to continue to operate during the legal challenge.

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