Ride-hail giants Uber and Ola both deny reported merger discussions

Ride-hailing firms Uber and Ola have both denied a media report that claimed the two app giants were discussing a merger.

According to the Economic Times, Indian’s Ola Chief Executive Bhavish Aggarwal travelled to San Francisco to meet top Uber executives, citing two sources.

Aggarwal responded on social media saying: "Absolute rubbish. We're very profitable and growing well. If some other companies want to exit their business from India they are welcome to! We will never merge."

According to Reuters, Uber said in a short statement: "That report is inaccurate. We are not, nor have we been, in merger talks with Ola."

The two ride-hailing giants continue to battle it out across the world for market share in the ride-share industry.