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Executives from Uber and Didi Chuxing have denied rumors of a potential merger between the two car-hailing apps companies, the news site Yicai reported on July 21.

“We have made no such plans and will not comment further on this rumor,” read the statement from Didi Chuxing. Liu Zhen, Head of Strategy for Uber China, also confirmed that the Bloomberg report containing the original story was nothing more than hearsay.

According to Bloomberg, “people familiar with the matter” told the news agency that “investors in Uber and Didi have discussed a potential deal.” One Uber investor claimed to have participated in dozens of phone calls and meetings with Didi board members in hopes of reaching a deal.

In the mean time, neither company has officially announced anything besides the fact that they won't comment on speculations.

Uber China has been in fierce fight with the local rival for China's car-hailing market share.