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Ride-sharing giants Uber and Ola both considering the purchase of private hire firm Addison Lee

24 Jul 2019

 

American ride-sharing firm Uber and their Indian based counterparts Ola are both weighing up the possibility of purchasing London private hire company Addison Lee.
 

According to a report by Sky News, the two parties are amongst a handful in talks with Addison Lee Group's owners. 

Although sources suggest the takeover interests from both parties are serious, things are still at a very early stage and no formal offers have been submitted. 

In Uber's case, it has signed a non-disclosure agreement with Carlyle and met members of Addison Lee's management team in recent weeks.

 

It was announced this month that Transport for London had granted Ola an operators licence to offer their services in the capital. 

 

A spokesperson for Ola said: “London is one of the world’s most iconic cities and hosts a progressive mobility environment.

“We are looking forward to building world-class mobility offerings for London, by collaborating with drivers, riders, the government and local authorities.”

At least two other parties are said to be in discussions with Carlyle, one of which is understood to be a private equity firm.

 

The investment group announced it was looking to sell its majority stake in the London based minicab firm after buying it in 2013 for about £300 million. The private equity group went on to plough a further £100 million in to Addison Lee as they sought to grow outside of London.  

 

Image: Source; Pixabay

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