SoftBank boss urged Grab to ‘cease war’ with Gojek

Avatar of Nick John By Nick John Dec27,2023 #Gojek #Grab #SoftBank
SoftBank boss urged Grab to 'cease war' with Gojek 4
SoftBank boss urged Grab to 'cease war' with Gojek 4

SoftBank boss Masayoshi Son is currently Grab’s largest investor.

Grab CEO Anthony Tan likes the acquisition to go in the second direction.

The negotiations revealed tensions between Tan and billionaire Masayoshi Son – who once supported Tan’s vision for Grab.

Currently, representatives of Grab, Gojek, and SoftBank all refuse to comment on this issue.

A Grab driver waits to pick up food in Kuala Lumpur.

According to Bloomberg, another issue of concern is whether regulators will object to the combination of the region’s two leading ride-sharing businesses, with overlapping operations in both regions.

Grab and Gojek have been locked in a costly battle for market share over the past few years.

Investors are also worried about increasing competition from rivals such as Sea – a business that IPO’d in 2017 and has a capitalization of about 82 billion USD.

According to Bloomberg sources, the two sides are negotiating on structure, pricing, as well as how to minimize concerns of antitrust regulators.

Grab has tried to raise new capital.

And Gojek is expanding its electronic payment activities.

Tu Anh (according to Bloomberg)

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