Gojek, Grab Renew Merger Talks | PYMNTS.com

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Six months after merger talks stalled between two of Southeast Asia’s ride-hailing companies, Gojek and Grab Holdings have resumed negotiations, the Financial Times (FT) reported.Shareholders, including Japan-based SoftBank, which first invested in Grab six years ago and in several later funding rounds, have urged the startups to return to the table, FT reported. These latest discussions come as rivals Gojek based in Jakarta, Indonesia, and Grab, based in Queenstown, Singapore, continue to lose money amid pandemic restrictions.Previous merger talks stalled, in part, due to opposition from SoftBank, according to FT. But now, SoftBank founder and CEO Masayoshi Son is backing the deal.Formerly, sources had told FT that Son was convinced ridesharing would be a monopoly industry, and the company with the most cash would dominate.But Gojek has proved a resilient rival. As a result, sources told FT Son is now among the biggest champions of a merger.A merger “could significantly accelerate both Grab and Gojek’s paths to profitability,” Asad Hussain, an analyst at PitchBook Data, a Seattle-based research company, told FT.But Kenny Liew, a technology analyst at Fitch Solutions, a London-based data, research and analytics company, said it’s unlikely regulators will approve …

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