Ola, Uber mull merger? Both companies deny buzz

The two companies have been slugging it out in an intensely competitive Indian market and have spent billions in incentives and discounts to passengers

After major buzz over two of India's biggest cab companies joining hands, cab aggregators Ola and Uber have rubbished media reports that they are considering a merger.

While the report claimed that Ola Chief Executive Bhavish Aggarwal met top Uber executives in San Francisco, United States, recently, Aggarwal soon took to Twitter denying any such development. Uber also junked the report with its spokesperson saying, “We are not, nor have been, in merger talks with Ola."

The two companies have been slugging it out in an intensely competitive market in India and have spent billions in incentives and discounts to passengers. More recently they have also launched newer services such as food and grocery delivery.

(With Reuters inputs)