LONDON — A man has been arrested on suspicion of theft and criminal damage after a street sign featuring work by the elusive artist Banksy was removed, the Metropolitan Police has said.

The piece of street art - a red stop sign with three military drones on - was unveiled on the corner of Commercial Way, Peckham, on Friday.

It was taken by a man with bolt cutters within an hour as witnesses took photos. Police said investigations are ongoing.

They added the arrested man remains in custody.

The Met was called to investigate the alleged theft by Southwark Council.

Officers said a new traffic sign had been put up to avoid endangering road users.

"We are aware of footage being shared which shows the sign being removed", the force said, adding that anyone with information about the incident or the whereabouts of the sign to call police.

In a video that appeared on social media, one man, carrying a banana, held a Lime hire bike steady for another, who reached up and cut the artwork free using bolt cutters.

Wrenching it off the post, he then ran down the street and out of sight.

After the sign was removed, Southwark Council's deputy leader Jasmine Ali confirmed the incident had been reported to the police.

She said they had every confidence they would get it back.

"We are not just talking about a street sign here, it is a work of art which was put there for the community. "It is street art and it is for the people," she said. — BBC