Grab Holdings Limited announced it was not in discussions with GoTo at this time and had not entered into any definitive agreements regarding a potential transaction. This statement clarified the company's position amidst persistent media speculation about a merger with its Indonesian rival.
Concurrently, Grab proposed to offer $1.25 billion in aggregate principal amount of convertible senior notes due 2030. The proceeds are intended for general corporate purposes, optimizing strategic flexibility, which may include potential acquisitions, and repurchasing shares, with plans to fully utilize the remaining $274 million of its $500 million share repurchase program.
In a separate trading update, Grab reported robust operational performance, with On-Demand Gross Merchandise Value (GMV) growing 19% in April and May 2025. This indicates continued strong demand and user engagement across its core mobility and deliveries segments, reinforcing the company's underlying business momentum.
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