'Absolute rubbish': Ola CEO denies merger with Uber; asserts 'We’re very profitable'

Ola Chief Executive Bhavish Aggarwal has refuted reports of merger talks with cab aggregator Uber and called the rumours "absolute rubbish". Stating that Ola is "very profitable" and growing well, he said that the transport company will never merge.

"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," Ola Electric CEO Bhavish Aggarwal tweeted.

Uber has also quashed reports suggesting merger talks with its competitor Ola. Ola and Uber are two key cab aggregators in the Indian market.

Headquartered in Bangalore, Ola Cabs is an Indian multinational ridesharing company. It also operates in other business verticals including financial services and cloud kitchens. Apart from India, Ola has also extended its services in Australia, New Zealand and UK.

Uber is an American mobility service provider with operations in approximately 72 countries and 10,500 cities as of 2021. Its services also include ride-hailing, package delivery, freight transportation, electric bicycle and couriers among others.