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Just Eat share prices rocket as Uber stripped of London licence

Price hike: Share in Just Eat rocketed after it was announced Uber had been stripped of its licence: Just Eat
Price hike: Share in Just Eat rocketed after it was announced Uber had been stripped of its licence: Just Eat

Shares in takeaway delivery service Just Eat rocketed after Uber was stripped of its licence in the capital.

Transport for London today announced its decision not to renew the taxi-hailing app company's licence when it expires on Saturday, September 30.

The share price of the food delivery company jumped by 20p per share to a high of £6.9350 as the announcement was made.

Traders were quick to invest in the service amid fears TfL’s decision would affect Uber’s food delivery platform UberEATS, according to Business Insider.

However, a spokesman for Uber told the Metro that the service would not be impacted as the licence only applies to private-hire operations.

Shares dipped to £6.89 shortly after the spike.