GOTO - Grab deal faces hurdle

GOTO - Grab deal faces hurdle Bloomberg reported that Grab’s planned acquisition of GoTo Gojek Tokopedia (GOTO) has hit a snag as Telkomsel (subsidiary of Telkom Indonesia [TLKM]) is unwilling to sell its ~2% stake near current valuation levels. Sources said Telkomsel raised concerns over potential losses to state capital, given its higher initial investment cost in GOTO. While Telkomsel may opt to retain its shares, it is reportedly pushing for a higher offer and is in talks for a separate deal structure. Negotiations are ongoing, with no final agreement reached. (Source : Bloomberg)