SoftBank Encouraging Uber to Merge Operations with Ola
Several news sources are reporting that Japanese giant investor SoftBank Group is putting pressure on Indian ride-hailing company Ola to merge with American rival Uber as part of a consolidation plan in India which represent the fastest growing market for ride hailing. SoftBank is currently the largest investor in both the companies and are reported to have been holding talks for over a year concerning the merge.
The wish of Softbank to see the deal go through intensified after Uber decided to leave the ride-hailing market of Southeast Asia after admitting defeat to local competitor Grab last week. Reports suggest that the deal will be completed in the coming two months as both companies wish to have controlling stakes in the deal. This is the main reason why the deal is taking so long ...
