GoTo Denies The Issue Of His Merger Plan With The Rival Grab

GoTo denied the issue of the merger with Grab (photo: GoTo)

JAKARTA - PT GoTo Gojek Tokopedia Tbk denied the issue related to the planned merger with its rival company, Grab Holdings or Grab.

Realizing the many speculations regarding the news, the statement in the information disclosure document on the Indonesia Stock Exchange (IDX), GoTo Corporate Secretary, R A Koesoemohadiani, confirmed that the news was not true.

"The company wants to provide clarification that there is no agreement between the Company and any party to carry out merger transactions as reported in the mass media," said Koesoemoadiani.

This news was first conveyed by a source to Bloomberg, who said the two companies were in talks to finalize the merger by 2025.

In the news, it was stated that Grab would acquire all GoTo shares with a valuation of more than 7 billion US dollars or equivalent to Rp. 114.52 trillion.

The source said that one of the options discussed was the purchase in stock, with the price per share of GoTo above Rp100 rupiah. This value reflects a premium of about 20 percent of GoTo's current share price.

The news of the merger between the two companies has previously been shared by DealStreetAsia in recent years. According to GoTo, the news is just speculation.

The company noted that the same news has also been circulating from time to time in the past in recent years and the news is based on speculation, concluded Koesoemoharani.