No merger for Ola-Uber merger; Ola's Bhavish Aggarwal rubbishes the claim, Uber calls it inaccurate

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Republic of india's Ola and Uber deny study of merger talks

India's Ola and Uber deny report of merger talks

FILE PHOTOAn employee speaks over his phone as he sits at the front desk inside the office of Ola cab service in Gurugram

(Reuters) -Uber Technologies Inc and its Indian rival Ola on Fri denied a media written report that the ride-hailing firms were in talks for a merger.

An Economic Times report said that Ola Chief Executive Bhavish Aggarwal had met height Uber executives in San Francisco, United States, citing two sources. (https://bit.ly/3cPbXro)

"That study is inaccurate. We are not, nor have we been, in merger talks with Ola," Uber said in a statement.

Ola's Aggarwal tweeted, "Absolute rubbish. We're very assisting and growing well. If some other companies desire to exit their business from India they are welcome to! We will never merge."

The two companies have been slugging information technology out in an intensely competitive Indian market and take spent billions in incentives and discounts to passengers.

Uber sold its local nutrient delivery business concern Uber Eats to Zomato Ltd in January 2020, while Ola shut down its grocery delivery business organisation and has of late invested billions of dollars in its electric vehicle venture, Ola Electric Mobility.

(Reporting past Akash Sriram in Bengaluru; Editing past Arun Koyyur)

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Source: https://finance.yahoo.com/news/indias-ola-uber-merger-talks-153510916.html

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