Grab looks to strike a deal to acquire Indonesia's GoTo in Q2: Sources

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Grab looks to strike a deal to acquire Indonesia's GoTo in Q2: Sources - Channel News Asia

Quick Summary:

SINGAPORE: United States-listed ride-hailing and food delivery company Grab is looking to strike a deal to take over smaller Indonesian rival GoTo in the second quarter, two sources with knowledge of the matter said.

Singapore-headquartered Grab has hired advisers to work on the proposed deal, the two sources added.

In March, Uber terminated its US$950 million bid for Delivery Hero's Foodpanda business in Taiwan after Taiwan blocked the proposed deal on anti-competitive concerns and worries that it could incentivise Uber to raise prices.