Bloomberg News reported that Grab was moving forward with talks to acquire its Indonesian rival, GoTo. This development reignited speculation about a potential consolidation between two of Southeast Asia's largest ride-hailing and food delivery companies.
The reported acquisition, if materialized, could create a dominant player in the region's digital services market, significantly impacting the competitive landscape. Investors were closely monitoring the situation for further details on the potential $7 billion deal.
However, GoTo Gojek Tokopedia subsequently reiterated that there was no agreement in place with any party to enter into a transaction. The company stated it was aware of recent media speculation but maintained its position of not having definitive merger plans.
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