According to Reuters, Grab, the on-demand app service provider, is currently in talks to merge its operations with GoTo, a competitor platform from Indonesia. This marks a new round of negotiations after both companies discussed plans earlier this year.
The current status is only exploratory, with a good chance of the deal falling through similar to the previous year. GoTo informed the Indonesian stock market in a report that the company is not currently in discussions to merge with anyone. The only plan for the next 12 months regarding company stocks is share buybacks. Grab, on the other hand, stated last year that no negotiations were taking place.
Source: CNA
TLDR: Grab and GoTo are in preliminary talks for a potential merger, but nothing is set in stone at the moment. GoTo clarified that they are not currently in discussions for a merger with any party. Grab had previously stated that no negotiations were happening.
Leave a Comment