Grab and GoTo have made headway on a potential deal structure, but the pace of talks had slowed recently over concerns about potential regulatory demands, the people said, asking not to be identified discussing a transaction in flux. Indonesia’s antitrust agency said in May it would look into potential risks and urged the companies to ensure any deal won’t create a monopoly.
Indonesia’s sovereign wealth fund Danantara is considering a role in Grab Holdings Ltd.’s planned US$7 billion ($9.01 billion) acquisition of GoTo Group, potentially allowing the country’s government to own a slice of an Asian internet powerhouse.
Danantara has started preliminary discussions with GoTo to acquire a minority stake in a combined entity, according to people familiar with the matter. That could help assuage concerns in the Indonesian government resulting from the sale of a national tech champion to Singapore’s Grab, the people said.
