Indonesia’s Business Competition Supervisory Commission (KPPU) has yet to receive any official notification or consultation regarding Grab’s rumored acquisition of GoTo Gojek Tokopedia.

KPPU spokesperson Deswin Nur confirmed on May 9 that the commission has not been formally informed about the potential deal.

Reports suggest Grab is preparing documentation and financing for the acquisition, with a deal potentially exceeding US$7 billion and targeted for completion by Q2 2025.

GoTo has acknowledged receiving offers from various parties but emphasized that no decisions have been made.

Both Grab and GoTo have not released any official statements on the matter.

🔗 Source: Katadata

🧠 Food for thought

1️⃣ Regulatory precedent from Grab-Uber merger will shape scrutiny of any GoTo deal

The 2018 Grab-Uber merger created a crucial precedent that will directly impact any Grab-GoTo deal, as it triggered significant regulatory responses across Southeast Asia.

Singapore’s competition authority fined Grab and Uber a combined $13 million after finding the merger substantially reduced competition, with Grab’s market share exceeding 80% and fares increasing 10-15% post-merger1.

Beyond fines, regulators imposed structural remedies including restrictions on Grab’s pricing algorithms and removal of exclusivity arrangements with drivers to maintain competitive balance2.

Malaysia similarly proposed a $20 million fine on Grab for allegedly restricting drivers from promoting competitors, showing how regional regulators now actively monitor anti-competitive behavior in ride-hailing markets3.

These previous regulatory actions explain why the Singapore competition authority (CCCS) has already publicly reminded the companies about compliance requirements, signaling heightened scrutiny for any potential Grab-GoTo transaction.

2️⃣ The “super app” strategy drives consolidation in Southeast Asian markets

Both Grab and GoJek have evolved from simple ride-hailing services into comprehensive “super apps” offering multiple services, making consolidation increasingly attractive from a business perspective.

Go-Jek pioneered the super app model in Indonesia by diversifying beyond rides to include food delivery and financial services, which helped it capture significant market share despite intense competition4.