Bloomberg News reported that Grab and GoTo, both ride-hailing platform providers, are in talks to merge once again. Currently, the negotiations are still preliminary, as they explore various possibilities for the merger format.
The report suggests that the proposed approaches could include Grab acquiring GoTo through cash or stock payments, or the two companies merging together. Alternatively, they might consider a brand separation agreement, where each country operates under different brands.
Earlier, GoTo closed a deal with TikTok, making it a major shareholder in its subsidiary, Tokopedia, to launch TikTok Shop. As a result, GoTo’s primary ownership remains in its financial services, GoTo Financial, and its ride-hailing and food delivery services, Gojek.
It is worth noting that representatives from GoTo have stated that these reported negotiations have not taken place, while Grab has declined to comment.
Source: Bloomberg
TLDR: Grab and GoTo, the prominent ride-hailing platform providers, are reportedly discussing a potential merger. The negotiations are in the preliminary stages, considering various approaches to formulating the merger. GoTo recently closed a deal with TikTok, expanding its business offerings. Nonetheless, representatives from both companies have either denied or refrained from commenting on the reported discussions.
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