Indonesia Go to groupa ride-hailing service in Southeast Asia, has denied reports that it is discussing a merger with Grab Holdings, another major player in the region.
The announcement follows speculation that the two companies were considering a deal, potentially involving cash, stock, or a combination of the two, to unite their businesses.
Speculation has gained ground following suggestions that GoTo may be more receptive to such discussions under its new CEO, Patrick Walujo, who took the helm last year.
However, GoTo’s clarification puts to rest rumors of a potential merger with Singapore-based Grab.
GoTo said in a deposit,
“We have only just become aware of the problem through the media. Through this letter, the company wishes to make it known that it generally cannot comment on rumors circulating in the market. The company would also like to point out that it currently has no discussions on such matters.
Featured Image Source: Go to