Connect with us

International Circuit

Telkomsel eyes additional $300 mln investment in Gojek – executive

Telkomsel, a unit of Indonesia’s largest telecoms operator Telkom TLKM.JK, is eying a $300 million investment in ride-hailing and payments firm Gojek, its president director told Reuters on Thursday.

The move follows a previous $150 million investment by Telkomsel in Gojek in November 2020.

“Telkomsel has the option to invest up to $450 million in Gojek within one year from the first investment,” said its president director Setyanto Hantoro.

“We are working to examine whether to exercise the $300 million option more quickly than that, after seeing positive results from the collaborations the two firms have carried out together since early 2021.”

Reuters reported in early April, citing sources, that Gojek is close to sealing a proposed merger with e-commerce platform Tokopedia that would result in a new entity called GoTo.

The $18 billion deal would create a technology powerhouse offering online shopping, courier services, ride-hailing, food delivery and other services in Southeast Asia’s largest economy. Nasdaq

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2023 Communications Today

error: Content is protected !!