Indonesia’s GoTo Group, a ride-hailing service in Southeast Asia, denied stories that it’s discussing a merger with Seize Holdings, one other main participant within the area.
This announcement comes after hypothesis that the 2 corporations have been contemplating a deal, doubtlessly involving money, inventory, or a mixture of each, to unite their operations.
The hypothesis gained traction following options that GoTo is likely to be extra amenable to such discussions underneath the management of its new CEO, Patrick Walujo, who took the helm final 12 months.
Nonetheless, GoTo’s clarification places an finish to the rumors of a possible merger with Singapore-based Seize.
GoTo stated in a submitting,
“Now we have solely simply been conscious of the difficulty from the mass media. By way of this letter, the corporate want to convey that typically the corporate can’t touch upon rumors circulating out there. The corporate would additionally prefer to emphaside that presently, the corporate just isn’t having any dialogue on such issues.”
Featured picture supply: GoTo
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