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Grab has denied reports of a potential $7 billion acquisition of Indonesian rival GoTo, stating no discussions or agreements are currently in place. Both companies have faced financial pressures, with Grab reporting a $158 million net loss in 2024 and GoTo a $331 million loss, amid ongoing speculation about a merger. Regulatory concerns in Indonesia highlight the government's focus on maintaining market competition and protecting its tech ecosystem.
Grab Holdings has surpassed quarterly revenue expectations, showcasing strong financial performance. This achievement highlights the company's growth trajectory and resilience in a competitive market. Investors and analysts will be keen to see how this momentum continues in future quarters.
The Land Transport Authority of Singapore has granted Grab a Street-hail Service Operator Licence, valid for 10 years from April 9. This allows GrabCab, a subsidiary of Grab Rentals, to operate taxis for both street-hail and ride-hail services, making it the sixth taxi company in Singapore. GrabCab has a three-year grace period to expand its fleet to at least 800 taxis.
GoTo has sold Tokopedia to TikTok, while other major e-commerce players like Shopee and Lazada remain in Indonesia. Grab is pursuing a merger with GoTo, which could streamline operations but may face regulatory scrutiny due to potential market monopoly concerns. Retaining the Gojek brand could enhance local appeal amid competition.
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08:00 20.03.2025
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