Grab tells employees it's 'in a position to acquire' after Gojek merger report

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

SINGAPORE: The CEO of Singapore ride-hailing company Grab told employees in an internal note on Thursday (Dec 3) that the firm is in a position to ...

SINGAPORE: The CEO of Singapore ride-hailing company Grab told employees in an internal note on Thursday that the firm is in a position to make acquisitions, following a report it is close to a merger with regional rival Gojek.

The two firms have made substantial progress in talks to merge Southeast Asia's two most valuable startups, Bloomberg reported on Wednesday.Sources familiar with the matter have previously told Reuters that over the last few years, large investors of the two companies have backed a merger of both loss-making firms."There is speculation again about a Gojek deal," Anthony Tan told employees in a note on the company's internal communication platform, seen by Reuters.

"Our business momentum is good, and as with any market consolidation rumours, we are the ones in a position to acquire."Tan did not give any specifics about a potential deal with Gojek. Grab declined comment on Tan's note and the media report. Gojek declined comment. Grab, Southeast Asia's biggest start-up, is now valued at more than US$15 billion, Reuters reported in October, according to a source familiar with the matter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

The grand alliance. And after that comes the cost cutting for employees and add-on pricing for consumers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Grab tells staff it's “in a position to acquire” after Gojek merger report
Source: TODAYonline - 🏆 1. / 99 Read more »

Grab tells staff it's 'in a position to acquire' after Gojek merger reportThe CEO of Singapore ride-hailer Grab told employees in an internal note on Thursday that the firm is in a position to make acquisitions, following a report it is close to a merger with regional rival Gojek. The two firms have made substantial progress in talks to merge Southeast Asia's two most valuable startups, Bloomberg reported on Wednesday. 'There is speculation again about a Gojek deal,' Anthony Tan told employees in a note on the company's internal communication platform, seen by Reuters.
Source: YahooSG - 🏆 3. / 71 Read more »

Grab tells staff it's 'in a position to acquire' after Gojek merger reportGrabjek.
Source: TODAYonline - 🏆 1. / 99 Read more »

Indonesian Grab, Gojek drivers threaten nationwide protests over merger talks
Source: TODAYonline - 🏆 1. / 99 Read more »

Grab, Gojek close in on terms for merger[SINGAPORE] Grab Holdings and Gojek have made substantial progress in working out a deal to combine their businesses in what would be the biggest Internet merger in South-east Asia, according to people with knowledge of the talks. Read more at The Business Times. GrabSG gojekindonesia OMG! Gonna get ghinaghaliya hollycahya treat me Mie Ayem (Chicken Noodle) online order
Source: BusinessTimes - 🏆 15. / 51 Read more »