London taxi drivers are drawing up a plan to sue mobile app Uber for over 1 billion pounds ($1.3 billion), Sky News reported on Tuesday citing unidentified sources, weeks after it was granted a temporary license to operate in Britain's capital.

Sky News said the Licensed Taxi Drivers' Association (LTDA) was likely to argue that 25,000 black-cab drivers in London had suffered lost earnings averaging around 10,000 pounds for at least five years as a result of Uber's failings, taking the overall possible bill to 1.25 billion pounds ($1.64 billion).

The report said it had engaged the law firm Mishcon de Reya to explore the options.

Uber won a probationary license to operate in the city last month, after Transport for London (TfL) had refused to renew it last September for failings in its approach to reporting serious criminal offenses and background checks on drivers.

The LTDA were not immediately available for comment. Uber declined to comment.