GoTo Denies Merger Talks as Reports Suggest Renewed Discussions with Grab

Speculation of a merger between Southeast Asia's tech giants Grab and GoTo resurfaces, though GoTo firmly denies any agreement.

GoTo has denied reports of merger talks with Grab, stating no agreement is in place despite ongoing speculation in recent years.
Bloomberg reported that Grab is considering a takeover of GoTo valued at over $7 billion, causing Grab's stock to rise by 12.6%.
Analysts suggest a merger could strengthen both companies' market positions but warn of significant regulatory and cultural challenges.
Sources indicate that merger discussions resumed in December 2024, with investors pushing for a deal to be finalized by 2025.
Both companies face mounting losses and competition from larger players like Uber, driving interest in potential consolidation to improve profitability.