Cab aggregator Ola's Chief Executive Officer (CEO) Bhavish Aggarwal on Friday night took to Twitter to deny reports of a merger with the company's key competitor Uber.
Aggarwal was responding to ET.com's report which cited two sources saying that Ola and Uber were in talks of a possible merger and that Aggarwal had recently met top executives of Uber in San Francisco, US regarding the same.
Aggarwal replied to the report on Twitter calling it "absolute rubbish". He said, "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."
The company's spokesperson reiterated the same saying that the cab aggregator is one of the most profitable ride hailing companies in the world with a strong balance sheet. "We are the market leader in India and are much bigger than the other player. Hence, a merger of any kind is completely out of the equation. We believe that India has a lot more opportunity to unlock when it comes to mobility services. As a strong vertically-integrated mobility company we will further consolidate our position by any acquisition in the Indian market, if at all," the spokesperson added.
Meanwhile, Uber too denied the report, according to news agency Reuters. "That report is inaccurate. We are not, nor have we been, in merger talks with Ola," Uber said in a statement, according to a Reuters report.
