Uber’s real London threat is Ola, not Bolt: Morgan Stanley
Live MintIndia’s Ola remains the main potential threat to Uber Technologies Inc.’s dominance in the London ride-sharing market, despite this month’s return of the rival Bolt service to the UK capital, Morgan Stanley analysts say. Ola, owned by ANI Technologies Pvt, has said it will take on Uber in London before the end of the year, while Daimler AG-backed Bolt, formerly known as Taxify, just re-entered the UK market two years after its operating license was revoked. In the two weeks since Bolt resumed London operations, evidence suggests it is not having a material impact on Uber, according to Morgan Stanley analysts led by Brian Nowak. “We believe Ola is arguably a greater threat if media reports of Ola’s entry into London at the end of the year prove accurate,” the analysts said.
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