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SINGAPORE (Dec 3): The chief executive of Singapore passenger transport company Grab told employees in an internal note on Thursday that the company is in a position to make acquisitions, following a report that it is close to a merger. with its regional rival Gojek.
The two companies have made substantial progress in talks to merge the two most valuable startups in Southeast Asia, Bloomberg reported Wednesday.
Sources familiar with the matter have previously told Reuters that in recent years, large investors in the two companies have backed the merger of both loss-making companies.
“There is again speculation about a deal with Gojek,” Anthony Tan told employees in a note on the company’s internal communication platform, seen by Reuters.
“Our commercial momentum is good and, as with any market consolidation rumor, we are the ones in a position to acquire.”
Tan did not elaborate on a possible deal with Gojek. Grab declined to comment on Tan’s note and the media report. Gojek declined to comment.
Grab, Southeast Asia’s largest startup, is now valued at more than $ 15 billion, Reuters reported in October, according to a source familiar with the matter. Gojek’s value has been estimated at $ 10 billion.
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