Uber may have explored selling Indian arm; company calls the report false

The US company Uber began weighing alternatives and reached out to several interested parties after recognizing it had limited potential for profitable expansion in Indian market.

Uber, Uber India
Premium

Uber disputed the idea it had considered retreating from India.

Anto Antony and Sankalp Phartiyal | Bloomberg
Uber Technologies Inc. explored options for its Indian ride-hailing business, including a sale, but suspended discussions after tech startup valuations cratered, people familiar with the matter said.
 
The US company began weighing alternatives and reached out to several interested parties after recognizing it had limited potential for profitable expansion in the country, the people said, asking not to be named as the information is not public. It pondered a stock swap with local companies or even a pullout, before a global equity market rout upended plans, the people added. A stock deal was favored in exploratory talks as that would

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 23 2022 | 11:37 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com