GoTo Denies Reports of Discussing Merger With Grab

 Ride-hailing company GoTo today denied a Bloomberg report that it will merge with Grab. Goto also said that there were no discussions between the two companies to merge businesses where both compete in the same market.

The Southeast Asian market is currently too small to have more than one ride-hailing service. In Malaysia, Grab itself did not continue discussions to buy the FoodPanda business because it did not agree with the requested value.

All the ride-hailing and food delivery companies of the world are suffering losses and people are stopping using the services because the prices are now skyrocketing unlike in the early stages. But if there is only one service that dominates the market, it is bad news for consumers because the market is no longer given.

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