So suggests this from the Evening Standard:
"City Hall sources say they are concerned the firm running the scheme in France will not bid for the London one. JCDecaux said it could no longer afford the project in Paris after more than half the bicycles were stolen.
"The French scheme is funded through advertising revenue from publicly-owned billboards and rental fees for the bicycles.
"Bosses at Clear Channel, which operates a similar scheme in Barcelona, have said they do not think the London vélib will work as it will rely solely on money from rental fees".
Picking up on the story, Dave Hill has solicited a response from Kulveer Ranger, the Mayor's Transport policy chief:
"...nonsense... Every city is different and we are designing a cycle hire scheme for London, not Paris or Barcelona. Our aim is for this scheme to be funded by a combination of funding from TfL, user revenue and a sponsor."
So, that's clear then. According to Mr Ranger, we're still on track to se a scheme by next May. That should mean that we would see the Mayor's plans for the scope of the project soon as it moves to tender.