Grab hints at its acquisition capability in internal note after Gojek merger report

The internal note comes a day after Bloomberg reported that the two Southeast Asian giants have made substantial progress in working out a merger deal to combine their businesses.

It was reported in October this year that SoftBank’s Masayoshi Son had been stepping up pressure on Grab to work out a merger deal with its Indonesian archrival.

“There is speculation again about a Gojek deal,” Grab CEO Anthony Tan reportedly told employees in a note on the company’s internal communications platform, accessed by Reuters. He added that Grab’s business momentum is sound and that despite the market consolidation rumors, it is Grab that is “in a position to acquire.”

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The specifications of the deal were not mentioned by Tan in the note. Grab also declined to comment on his note and the media report, said Reuters.

The ride-hailing giant is now valued at over US$15 billion, while Gojek’s worth has been estimated at US$10 billion, according to the report. It’s possible that the merged company could eventually be worth US$72 billion.