MUMBAI: Ride-hailing firm Uber has denied reports that it had explored options to sell its Indian business.
Ruchica Tomar, an Uber spokesperson, was categorical in dismissing a Bloomberg report that 'Uber is said to have explored a sale of (its) Indian ride-hailing arm'.
"Bloomberg's reporting is categorically false and that they have never explored exiting India -- not even for a minute," Tomar said
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"India is as important to Uber today as it was when we launched nine years ago. We are serving riders and drivers across more than 100 cities, hiring Indian talent aggressively, and planning for the next decade and beyond," he said.
Bloomberg in its report citing sources said that Uber Technologies Inc. explored options for its Indian ride-hailing business, including a sale, but suspended discussions after tech startup valuations cratered.
The report said that the company began weighing alternatives and reached out to several interested parties after recognizing it had limited potential for profitable expansion in the country.
Uber and its fierce competitor in India -- Bengaluru based Ola -- have been struggling to make profit in the highly price-sensitive market. Uber has already sold its food-delivery business in India to foodtech firm Zomato in 2020 in return for a stake in the local startup.