SoftBank and Uber deal could end fare honeymoon

Masayoshi Son, the chairman of SoftBank, will in all probability, push for Uber and Ola to adopt electric mobility in India

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