French Uber executives ‘to stand trial’ in illegal taxi services probe

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French prosecutors have accused Pierre-Dimitri Gore-Coty and Thibaud Simphal of helping amateur drivers to operate illegal taxi services, according to the Wall Street Journal.

The pair were arrested on Monday and spent the night in custody. They have since been released and told to appear before magistrates in three months time, the WSJ said.

Like in many other countries, Uber’s arrival in France has angered traditional cabbies, who fear its low-cost model will poach customers.

The country last week banned its UberPOP service, which lets anyone offer taxi rides on the platform, after widespread and, in some cases violent,protests by taxi drivers.

 

The incidents have not, however, deterred the cab hailing app ruffling feathers elsewhere.

In New York, where Mayor Bill de Blasio is supporting a new law that would limit the amount of cars that it could operate, it offered free rides to those using its carpooling service UberPool to get to a protest against the bill.

 

It also appeared to be pushing ahead with its aggressive expansion plans, snapping up assets from Microsoft’s Bing and taking around 100 of it employees to bolster its mapping work, according to TechCrunch.

 

A separate report published on Tuesday said the company, which has been given a valuation of around $50 billion (£31.7 billion), generates a loss of $470 million.

The figure, which is based on $415 million revenue, featured in a prospectus for a bond sale, Bloomberg reported.

Source Article from http://www.standard.co.uk/business/business-news/french-uber-executives-to-stand-trial-in-illegal-taxi-services-probe-10355840.html

July 1, 2015 |
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