On Friday night, the CEO of taxi aggregator Ola, Bhavish Aggarwal, took to Twitter to deny reports of a merger with the company’s main competitor, Uber.
Aggarwal was responding to ET.com’s report which cited two sources as saying that Ola and Uber were in talks about a possible merger and that Aggarwal had recently met with senior Uber executives in San Francisco, US at this topic.
Aggarwal responded to the report on Twitter calling it “absolute rubbish”. He said, “We are very profitable and growing well. If other companies want to leave India, they are welcome! We will never merge.”
The company spokesperson reiterated the same saying that the taxi aggregator is one of the most profitable transport companies in the world with a strong balance sheet. “We are the market leader in India and are much bigger than the other player. Therefore, a merger of any kind is completely out of the equation. We think India has a lot more opportunities to unlock in mobility services. As a vertically integrated mobility company, we will further consolidate our position through any acquisition in the Indian market, if at all,” the spokesperson added.
Meanwhile, Uber also denied the report, according to Reuters news agency. “This report is inaccurate. We are not, and have not been, in merger talks with Ola,” Uber said in a statement, according to a Reuters report.
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