Ola, Uber head for a merger in India: Check details

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Ola, Uber head for a merger in India: Check details
Ola, Uber head for a merger in India: Check details

New Delhi : Two major cab aggregator services in India - Ola and Uber - are likely to merge operations in the country and the deal is being brokered by SoftBank, said a report.

Cab aggregators, on the other hand, have straight away denied the development and claimed that there are no plans of merger in near future.

However, sources claim that the merger is being done by the Softbank and not the cab aggregators. And it will happen only if Uber gets a major stake in the deal.

Softbank is one of the major investors in both the cab aggregator service.

Recently, Uber had sold its Southeast Asian operations to rival Grab for a 27.5 per cent stake in that company. In October last year, Uber ended operations in China, selling its service to Didi Chuxing.

However, the company has always maintained of keeping a good hold on Indian market. Uber CEO Dara Khosrowshahi said the company will invest “whatever we have to in order to succeed in India”.

“The great news about our Grab deal is that it allows us to double down to invest aggressively in our core markets – and we consider India very much as core to Uber’s success… we will be more focused on organic growth in the markets that we are operating in,” Khosrowshahi told PTI.