No Grab-GoTo merger notification yet, says Singapore competition watchdog

The competition watchdog in Singapore has not received any notification from ride-hailing firms Grab or GoTo on any proposed merger, but said it remains open to engaging with the parties.

- Hariz Baharudin Correspondent

In response to queries from The Straits Times, the Competition and Consumer Commission of Singapore (CCS) said on Nov 14 that it was aware of media reports about a potential tie-up.

“CCS is open to engaging with the parties via our merger notification and pre-notification processes. CCS has, to date, not received any notification for decision from Grab or GoTo on a proposed merger,” it said.

GoTo and Singapore-based Grab, whose significant shareholder is Uber Technologies, have held on-and-off discussions about a merger for years.

GoTo, formed from the merger of Gojek and Tokopedia, is an Indonesian tech giant and any deal would directly affect its home market and millions of local drivers.

Such merger reports have surfaced periodically over the past few years, but intensified last week after Indonesia’s State Secretary Prasetyo Hadi confirmed on Nov 7 that a merger plan between the two ride-hailing giants was being discussed.