Automobile Business

Ola deny the intent to sell controlling stake to Uber

Ola deny the intent to sell controlling stake to Uber

It was reported that, taxi aggregator Uber could soon acquire a controlling stake in Ola. This would result in a scenario where most of Ola’s promoters would exit the company. If Uber manages to acquire a controlling stake in Ola, then it would be one of the highest valued start-up’s in the world and becomes the biggest cab hailing aggregator in India. But Ola’s promoters have denied any intent to sell to Uber.

ANI technologies which is the holding company behind Ola has categorically said that it has any intention to sell its stake to Uber in a statement. Ola board member Avnish Bajaj has also denied intentions to sell his stake in the company.

“It cannot be further from the truth that Uber is attempting to take a stake in Ola. No such discussions have taken place and even if we are approached anytime in the future, we have no intentions of selling to Uber,” said Bajaj.

“We would like to state that the article, attributed to an ‘unnamed source’ is completely false, misleading, malicious and planted in the said newspaper with the intent of causing harm to the Ola brand and creating confusion among our stakeholders,” said an ANI technologies spokesperson.