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GoTo denies rumors of Grab acquisition talks in Indonesia
Indonesia’s GoTo Gojek clarified on Mar. 19 that it has not reached any agreement with any party regarding a potential transaction.
This statement follows a report suggesting that Singapore-based Grab was making progress in plans to acquire the company.
This speculation led to a 5.4% rise in Grab’s shares during premarket trading on Mar. 18.
The shares later closed the day up 3.4%. GoTo’s shares also increased by 5% on the same day.
Reports indicate that merger discussions between the two firms have been intermittent.
Recent Grab developments
| Timeline |
|---|
| 18-Mar-2025 🔍 Grab begins due diligence in GoTo merger talks Grab Holdings initiates due diligence on GoTo Group as discussions for potential deal structure continue, but talks are preliminary. |
| 14-Mar-2025 🤖 Grab CEO warns AI crucial for growth, non-users risk lagging Grab CEO Anthony Tan emphasizes AI’s vital role in growth and innovation, reporting $2.8B revenue and new AI tools. |
| 10-Mar-2025 🚖 Grab, Gojek CEOs agree to give Eid holiday bonuses to drivers President Prabowo announces holiday bonuses for online drivers ahead of Eid al-Fitr, with details from the Ministry of Manpower. |
| 10-Mar-2025 🚗 Grab partners with autonomous tech firms for AV expansion Grab partners with four tech firms to explore autonomous vehicle integration in Southeast Asia, enhancing transport safety and efficiency. |
| 07-Mar-2025 🏢 Grab exec departs to lead digital property firm Russell Cohen leaves Grab after 8 years to become CEO of Pexa, a digital property settlement platform in Melbourne. |
| 04-Mar-2025 🛒 Grab acquires another Malaysian supermarket chain Grab Holdings acquires Eastern Grocer to expand grocery retail presence in East Malaysia, enhancing digital shopping. |
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