The rumoured merger would represent a enormous shakeup for taxi aggregators in India
By Reuters | Updated: 29 July 2022 22:46 IST
Uber Technologies Inc and its Indian rival Ola on Friday denied a media report that the journey-hailing firms have been in talks for a merger. An Economic Situations report explained that Ola Chief Executive Bhavish Aggarwal experienced achieved leading Uber executives in San Francisco, United States, citing two sources.
“That report is inaccurate. We are not, nor have we been, in merger talks with Ola,” Uber mentioned in a assertion.
Ola’s Aggarwal tweeted, “Absolute garbage. We’re extremely lucrative and developing properly. If some other companies want to exit their business from India they are welcome to! We will hardly ever merge.”
Complete rubbish. We are very financially rewarding and increasing very well. If some other businesses want to exit their small business from India they are welcome to! We will in no way merge. https://t.co/X3wC9HDrnr
— Bhavish Aggarwal (@bhash) July 29, 2022
The two businesses have been slugging it out in an intensely aggressive Indian market place and have invested billions in incentives and reductions to travellers.
Uber marketed its area foods delivery small business Uber Eats to Zomato Ltd in January 2020, although Ola shut down its grocery supply small business and has of late invested billions of bucks in its electric powered car or truck undertaking, Ola Electric powered Mobility.
© Thomson Reuters 2022
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