India’s Ola and Uber deny report of merger talks – Times of India

Uber Applied sciences Inc and its Indian rival Ola on Friday denied a media report that the ride-hailing companies have been in talks for a merger.
An Financial Occasions report stated that Ola Chief Govt Bhavish Aggarwal had met high Uber executives in San Francisco, United States, citing two sources.
“That report is inaccurate. We’re not, nor have we been, in merger talks with Ola,” Uber stated in an announcement.
Ola’s Aggarwal tweeted, “Absolute garbage. We’re very worthwhile and rising nicely. If another firms need to exit their enterprise from India they’re welcome to! We are going to by no means merge.”
The 2 firms have been slugging it out in an intensely aggressive Indian market and have spent billions in incentives and reductions to passengers.
Uber offered its native meals supply enterprise Uber Eats to Zomato Ltd in January 2020, whereas Ola shut down its grocery supply enterprise and has of late invested billions of {dollars} in its electrical car enterprise, Ola Electrical Mobility.


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