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Uber, Ola CEO Bhavish Aggarwal Refute Merger Report

The rumoured merger would signify an enormous shakeup for taxi aggregators in India

By Reuters | Up to date: 29 July 2022 22:46 IST

Uber Applied sciences Inc and its Indian rival Ola on Friday denied a media report that the ride-hailing companies had been in talks for a merger. An Financial Occasions report mentioned that Ola Chief Government Bhavish Aggarwal had met prime Uber executives in San Francisco, United States, citing two sources.

“That report is inaccurate. We aren’t, nor have we been, in merger talks with Ola,” Uber mentioned 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.”

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. https://t.co/X3wC9HDrnr

— Bhavish Aggarwal (@bhash) July 29, 2022

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 automobile enterprise, Ola Electrical Mobility.

© Thomson Reuters 2022

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