Grab (GRAB) and GoTo (GTOFF) are in talks to offer Indonesia’s sovereign wealth fund, Danantara, a “golden share” to secure approval for a potential $29B merger, The Financial Times’ A. Anantha Lakshmi, Owen Walker, and David Keohane report. The proposal includes giving Danantara a minority stake with special rights over the Indonesian operations, including influence on matters such as driver pay, according to two people familiar with the matter.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GRAB:
- Grab Holdings price target raised to $7 from $6.50 at Barclays
- Midday Fly By: Insurers slip as Senate spending bill lacks ACA extension
- Grab Holdings Ltd call volume above normal and directionally bullish
- Indonesia discussing plans to merge Grab, GoTo, Reuters reports
- Grab Announces Strategic Investment in Remote Driving Tech Firm Vay