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Common shareholder SoftBank calls for merger between Uber, Ola in India

Japanese investor is the largest shareholder in both companies

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo. (Photo: Reuters)
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The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo. (Photo: Reuters)

Alnoor Peermohamed Bengaluru
Japanese investment giant SoftBank has called for a merger between homegrown Ola and US firm Uber’s India unit as part of its planned consolidation in Asia’s fast-growing ride hailing app market.

The talks, facilitated by SoftBank, which is the largest investor in both companies, have been going on for nearly a year, according to sources close to the development. However, in the past few days, this call for a merger between Uber and Ola has gathered steam.

Softbank’s push for consolidation in India’s ride hailing market comes days after Uber announced its exit from Southeast Asia after selling

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First Published: Mar 29 2018 | 1:17 AM IST

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