Uber says it's not worried about new competition in its biggest market in Europe

"Uber is now the problem of its own making because it's become the price-setter and everybody is now undercutting it from a price-setting point of view," Michael Browne, portfolio manager at investment firm Martin Currie, told CNBC's "Squawk Box Europe" Friday.

Even with the new challengers, Uber remained the most-downloaded ride-sharing and taxi app in the U.K. in the second quarter, according to analytics firm App Annie. Khosrowshahi said the company's addition of public transit services in the app, including live timetables for tube and bus schedules, helped generate "higher engagement," specifically in London.Uber's stronghold in the food delivery space in London appears less firm.

Its biggest worry is itself and being able to stop burning money

Of course not. Uber can lose money faster than any competitor.

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