Your days of enjoying subsidised rides on Uber and Ola might be over soon. With SoftBank’s deal to buy a 20 per cent stake in Uber’s global operations falling into place, the Japanese firm has created a monopoly in India’s ride-hailing sector.
Ola, the home-grown rival of Uber, already counts SoftBank as its largest investor. With significant stake in both the players, the ball to curb erroneous spending by the two ride-hailing players, who have engaged in trying to rob each others customers, will end.
“Now both (Uber and Ola) will be directed not to undercut each other,” said a
