On Friday, media reports claimed that Ola and Uber would be merging their Indian operations. The report was first published by Economic Times, followed by Reuters picking the story.

Turns out that the report is fake. Uber said that the report is inaccurate. "We are not, nor have we been, in merger talks with Ola," Uber added.

Ola's CEO, too, debunked the report, going to the extent of calling it absolute rubbish. "We are very profitable and growing well. If some other companies want to exit their business from India they are welcome to! We will never merge," he tweeted.

Two most-happening ride-hailing services coming together wouldn't have been good news to customers. A monopoly would result in an increase in fares. Ola and Uber fares have already gone up in recent months due to increased fuel costs, shortage of captains post pandemic, and a few other factors.