JAKARTA: Indonesia's ride-hailing and payments giant Gojek is in advanced merger talks with local e-commerce pioneer PT Tokopedia ahead of a public offering of the combined entity, Bloomberg News reported on Tuesday (Jan 5), citing people familiar with the matter.
The merged entity would create an Indonesian internet powerhouse with a combined valuation of more than US$18 billion, the report added.
Gojek and Tokopedia have considered a potential merger since 2018, but discussions gained momentum after deal talks between Gojek and rival Grab Holdings reached an impasse, Bloomberg News said.
The deal is expected in the coming months and the new company plans to go public in the United States and Indonesia, according to the report.
Gojek and Tokopedia did not immediately respond to Reuters' requests for comment.