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SoftBank adds new twist to Ola-Uber rivalry

The investor could pave the way for a merger between Ola and Uber as it wouldn't want the two rivals to use its money to cannibalise one another

Alnoor Peermohamed  |  Bengaluru 

Before the trickle of dollars into India’s ride-hailing market could turn into a raging rapid, Japanese investment giant SoftBank could bring an end to the war between Uber and its local counterpart, Ola. With an additional $1 billion commitment to Ola and a plan to lead a $20-billion investment in Uber, SoftBank could force consolidation in the country’s transportation market. SoftBank, the largest backer of Ola, in its quest to become the dominant power in ride-hailing market globally, has approached Uber to participate in a massive $20 billion funding round. The key ...

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First Published: Wed, October 11 2017. 23:03 IST
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