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Business deals

Grab takes 90% share in Indonesian digital wallet OVO

Superapp needs partner to skirt rule against foreign majority e-payment stake

Indonesian e-payment service OVO is now under Grab's control. (Source photos by Dimas Ardian and Reuters) 

JAKARTA -- Singapore superapp Grab has taken majority ownership of Indonesian e-payment service OVO, acquiring stakes from Tokopedia and local conglomerate Lippo Group as part of OVO's ownership restructuring.

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