Failed Uber-Rapido merger talks; Honasa’s strong Q1
Uber and Rapido attempted to merge their India ride-hailing operations in May, but negotiations broke down over control of the combined entity. Uber CEO Dara Khosrowshahi proposed merging the businesses and allowing Rapido to manage the newly formed company, while Rapido's cofounder and CEO Aravind Sanka pushed for a cash-and-stock structure that would effectively acquire Uber's Indian operations.
The key sticking point was Uber's unwillingness to give up control or exit the Indian market, leading to the collapse of the talks.
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Also reported by 1 other outlet
- Honasa Consumer shares jump 4% after record Q1; Jefferies, Emkay forecast strong upside economictimes.indiatimes.com
