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“Absolute rubbish,” says OLA owner Bhavish Agarwal on merger rumours with UBER

On Friday, Uber Technologies Inc (UBER.N) and its Indian competitor Ola rejected a media report that the two ride-hailing companies were in merger talks.

According to two sources cited in an Economic Times investigation, Ola Chief Executive Bhavish Aggarwal met with top Uber officials in San Francisco, California.


“That report 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 profitable and growing well. If some other companies want to exit their business from India they are welcome to! We will never merge.”