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Grab and Gojek began discussing a potential merger more than three months ago


Gojek
TechCrunch
SoftBank
Mitsubishi UFJ Financial Group
Inc
First Choice Bank
MUFG
TIS INTEC
GrabPay
Mastercard
Credit Saison
Chubb
ZhongAn Online P&C Insurance Co.
Group COO & Group CDTO
The Information
Uber
Tencent
Google
Visa
Gojek and Grab
Gojek’s


Gojek
Joko Widodo
GoJek
MUFG
Ltd.“MUFG
Ming Maa
Hironori Kamezawa
Didi Chuxing


Southeast Asian
Japanese
Indonesian
businesses’


Southeast Asia

No matching tags


Japan
Indonesia

No matching tags

Positivity     39.00%   
   Negativity   61.00%
The New York Times
SOURCE: https://techcrunch.com/2020/02/25/grab-and-gojek-began-discussing-a-potential-merger-more-than-three-months-ago/
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Summary

“We believe that this alliance will also generate additional momentum for our ongoing digital transformation of MUFG.”The financing development looks like it may have been precipitated by the report that surfaced on Monday from The Information, which reported that it is in merger discussions with Gojek, a ride-hailing business based out of Indonesia and also a big player in on-demand transportation and related services in the region.A Gojek spokesperson told TechCrunch that “there are no plans for any sort of merger, and recent media reports regarding discussions of this nature are not accurate.” A Grab representative, meanwhile, said that the company declines to comment on market rumors and speculation.A merger is one possible solution to the costly rivalry being waged by the two companies in Southeast Asia and the statements may be an effort to ward off attention before a deal nears completion.With a $14 billion valuation and investors including SoftBank, Uber and Didi Chuxing, Grab is the larger company, but it competes head-to-head in Indonesia with Gojek, which has financial backing from Tencent, Google and Visa, among others.

As said here by Catherine Shu, Manish Singh