“We decided to be proactive,” Tan said in an interview with Bloomberg Television. “We wanted to set the bar in transparent financial reporting. It may have taken a little longer than we expected.”
Grab Holdings CEO Anthony Tan said he’s confident the merger of the ride-hailing and food-delivery giant and a US blank-check company will be completed by year-end, following a delay caused by a review of its financials.
The Singapore-based startup last week postponed the expected completion of the deal with Altimeter Growth Corp – set to be one of the largest-ever mergers with a special purpose acquisition company – to the fourth quarter as it works on an audit of the past three years. When announcing the pact in April, Grab said in an investor presentation its completion target was July.
