The Business Times
business-time-50

Ride-hailing firm GoTo denies discussions of merger with Grab

Published Tue, Feb 13, 2024 · 06:33 PM
    • Media reports previously said both the companies were in preliminary discussions related to a variety of scenarios about a potential deal.
    • Media reports previously said both the companies were in preliminary discussions related to a variety of scenarios about a potential deal. PHOTO: REUTERS

    INDONESIA’S GoTo, one of South-east Asia’s biggest ride-hailing companies, said on Tuesday (Feb 13) that it was not in any discussion with Grab Holdings about a potential merger.

    Media reports previously said both the companies were in preliminary discussions related to a variety of scenarios about a potential deal.

    One potential option is for Singapore-based Grab to acquire GoTo using cash, stock or a combination of the two, one of the people said, adding that the Indonesian company is more open to a deal after Patrick Walujo took over as CEO last year. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    GoTo GroupGrabM&A

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    From shy teenager to outspoken philanthropist, Chloe Tong has come a long way.

    Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose

    From left: Pham Nhat Quan Anh, Pham Nhat Vuong, Pham Thu Huong and Pham Nhat Minh Hoang. The couple (centre) remain senior figures in Vingroup, with their children’s presence in the ecosystem growing.

    He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons

    HDB said the listed price of S$2.18 million for the flat at 93B Telok Blangah Street 31 was “significantly higher” than comparable transactions in the area.

    HDB reviewing ‘jumbo’ flat scheme after Telok Blangah unit listed for sale at S$2.18m

    Japan becomes more valuable to Asean partners when that alliance increases Japanese capabilities without limiting its other relationships in Asia.

    What role can Japan play in Asean’s future?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More