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Aya Lin · · 1 min readIn brief: Grab had discussions to acquire local payments startup 2C2P – sources
- Singapore-based Grab held talks to acquire local payments startup 2C2P and was turned down, according to a Bloomberg report citing people familiar with the matter. But sources tell Tech in Asia the report was inaccurate.
- Bloomberg sources said the ride-hailing giant was part one of the multiple bidders interested in acquiring 2C2P, with offers going up to US$200 million.
- 2C2P, founded in 2003, supposedly declined the offer and decided to raise more capital for expansion.
- People familiar with the issue told Tech in Asia that while Grab had early talks with the company, it’s not true it was turned down. The talks just “didn’t go anywhere,” they said.
Editing by Dante Gagelonia
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