Indonesian e-hailing company GoTo has denied recent merger rumours with Grab, saying that there are no such discussions at the moment.
It was previously reported that talks have restarted over a potential merger to offset losses due to the intense competition between the two Southeast Asian companies.
Through this letter, the company would like to convey that generally, the company cannot comment on rumors circulating in the market. The company would also like to emphasize that currently, the company is not having any discussion on such matters.
GoTo
In the same statement, GoTo also mentioned that the company has strong fundamentals and financial position based on its fourth-quarter performance in 2023.
Furthermore, the company will also receive an e-commerce service fee on a quarterly basis from Tokopedia corresponding with Tokopedia’s core gross merchandise value (GMV), which will directly contribute to the GoTo group’s earnings before interest, taxes, depreciation, and amortization (EBITDA).
GoTo
Moving forward, they said that they will continue to focus on growing healthily and profitably by enhancing product innovation and operational excellence in their on-demand services (ODS) and financial technology (fintech) businesses, as well as enhancing shareholder value.
