SoftBank-backed ride hailer Grab is in talks to merge OVO, an Indonesian digital payments firm in which it owns shares, with an Ant Financial-backed local peer to build heft and power ahead of archrival Gojek, people familiar with the matter said.
Grab and Gojek are the top-two startup brands in Southeast Asia, valued at $14 billion and $10 billion, respectively, according to sources. They compete in a host of areas including financial services, e-commerce, ride-hailing and food delivery.
Article via Yahoo Finance
Link
Region
Type
Our Poblications
0
Promote to Editors
0
Images
Image
![A Grab logo is pictured at the Money 20-20 Asia Fintech Trade Show in Singapore A Grab logo is pictured at the Money 20-20 Asia Fintech Trade Show in Singapore](/sme-d8/dev/sites/default/files/styles/large/public/A%20Grab%20logo%20is%20pictured%20at%20the%20Money%2020-20%20Asia%20Fintech%20Trade%20Show%20in%20Singapore.jpg?itok=PK7NjSqX)