Equities

Reuters reveals Grab in talks to merge Indonesian payment firms to overtake Gojek

Reuters reveals Grab in talks to merge Indonesian payment firms to overtake Gojek

Reuters was [first to report][1] that SoftBank-backed ride hailer Grab is in talks to merge OVO, an Indonesian digital payments firm in which it owns shares, to build heft and power to take on archrival Gojek. A deal would see Singapore-based Grab buy a majority interest in Ant-backed DANA from Indonesian media conglomerate Elang Mahkota Teknologi (Emtek) and merge it with OVO, Reuters sources said.

[1]: Grab in talks to merge Indonesian payment firms to overtake Gojek