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9 -7 2 0 -4 0 4 REV: MARCH 10, 2021 ALEXANDER J. MACKAY AMRAM MIGDAL JOHN MASKO Uber: Competing Globally Uber London Limited found to be not fit and proper to hold a private hire operator licence. — Headline, Transport for London press release, November 25, 2019 1 In November 2019, Transport for London (TfL), the transportation authority of the British capital, denied Uber a new license to operate in Greater London. TfL claimed that Uber exhibited a “pattern of failures” regarding existing regulations and concluded that the ridesharing company “is not fit and proper at this time.” 2 Following the decision, CEO Dara Khosrowshahi lamented, “This TfL decision is just wrong. Over the last two years we have fundamentally changed how we operate in London.” 3 TfL’s decision was met with approval by London’s taxi drivers, who

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