Grab shares jump 13% after reports of GoTo merger talks

GoTo says there is 'no agreement' between ride-hailing rivals

Grab and GoTo, the two largest ride-hailing service companies in Southeast Asia, have held on-and-off talks for years on a potential merger. (Photo by Yuki Kohara)

TSUBASA SURUGA and NANA SHIBATA

February 5, 2025 11:24 JST

SINGAPORE/JAKARTA -- Shares in Singapore-based Grab Holdings jumped nearly 13% in trading in New York on Tuesday following media reports that the ride-hailing and food delivery group is in talks to merge with its Indonesian rival GoTo.

DealStreetAsia on Tuesday reported that both companies have revived merger talks in recent weeks, potentially finalizing a deal and concluding it this year. Following the media reports, Jakarta-listed GoTo's stock price jumped about 7%.