New Delhi: Head of Executive Ola Bhavish Aggarwal has denied media reports about merger talks with Uber. Mr Aggarwal Tweeted Ola “is very profitable and growing well” and reports on the mergers with American travel firms are “absolute trash”.

The Reuters news agency reports that Ola and Uber are considering the potential of mergers, quoting an Economic Times report that quotes sources who are familiar with this problem. NDTV has also brought Reuters reports.

Uber also denied the Merger Talks Report. “The report was inaccurate. We are not, we also do not, in the mergers’ conversation with Ola,” Uber said in a statement.

Both companies have sorted them in the Indian market which are very competitive and have spent billions of incentives and discounts for passengers.

Uber sells the local food shipping business Uber Eats to Zomato in January 2020, while Ola closed the food delivery business and recently inves billions of dollars in the electric vehicle business, Ola Electric Mobility.

Earlier this month, it was reported that Ola would cut work and stop employee performance appraisal for this year. Ola reportedly dismissed nearly 500 employees based on performance in various departments and limits their operations due to funding problems.

The company is also new to closing its vehicle business, Ola Cars, who is almost one year old but does not get much income and business.