Lyft lashes out at Uber's "unsavoury tactics"

The ride-hailing company denies reports that it is for sale

Lyft lashes out at Uber's "unsavoury tactics"

Picture by: Paul Sancya / AP/Press Association Images

Ride-hailing company Lyft has accused its nearest rival and market leader Uber of trying to undermine its business in a dishonest manner.

The criticism follows Bloomberg reporting Uber executives as telling investors that it would not pay more than $2 billion to acquire its main competitor. The same piece states that, despite the price tag, Uber CEO Travis Kalanick has privately said that he would be against such a deal due to the intense regulatory scrutiny that would come with it.

He has previously suggested Lyft is seeking a price of close to $9bn.

Speaking to The Verge, a Lyft spokesperson said:

"The Bloomberg report is a classic example of Uber using unsavoury tactics in an attempt to impact our business.

"Lyft is not for sale, we are on a fully funded path to profitability."

Lyft company sources have said that the San Francisco company had a fiduciary obligation to its investors to entertain every legitimate offer it receives, even if a sale wasn't necessary to ensure its survival. 

The company has been widely reported as courting interest from its ride-hailing rival for some time, with the New York Times reporting last week that it has also failed in its attempts to be acquired by major multinationals including General Motors, Apple, Google and Amazon.

According to the NYT, talks were most advanced with GM but a written offer was never made.

The article also states that Lyft is in no danger of closing down, with a "cash cushion" of $1.4 billion.