Grab, Gojek close in on terms for merger

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.GrabSG, gojekindonesia close in on terms for merger

Investors have been pushing for them to combine forces across South-east Asia in order to reduce cash burn and create one of the most powerful internet companies in the region.

SoftBank has been pushing for a deal since Mr Son visited Indonesia in January, but he's grown increasingly frustrated with the lack of progress. The old rivalry and personality clashes between the two companies' leaders have led to deadlocked negotiations in the past, according to one of the people familiar with the talks.

Sea's surprise journey from a scrappy startup to South-east Asia's most valuable company in the past 10 years has been the"biggest inspiration" for local internet companies lately, said Rohit Sipahimalani, chief investment strategist at Temasek Holdings.

 

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