Telkomsel eyes additional $300 mln investment in Gojek - executive


By Fanny Potkin

SINGAPORE, April 22 (Reuters) - 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."

Gojek declined to comment.

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.

A source with knowledge of the matter said the Telkomsel additional investment would make it one of GoTo's top eight investors, along with firms such as Alphabet's GOOGL.O Google, Alibaba 9988.HK, and Softbank 9984.T.

(Reporting by Fanny Potkin; Editing by Martin Petty)


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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