SoftBank Group Corp.¡¯s Masayoshi Son is stepping up pressure on Grab Holdings Inc. co-founder Anthony Tan to work out a ceasefire with archrival Gojek, according to people familiar with the matter.
Southeast Asia¡¯s two most valuable startups are actively engaged on regular Zoom calls after months of off-and-on discussions and are making progress toward an agreement, said the people, asking not to be identified because the talks are private. A key sticking point remains whether the two companies merge all operations or whether Grab acquires Gojek¡¯s business only in Indonesia.
Tan, Grab¡¯s chief executive officer, prefers the narrower acquisition, which would give him more control after the deal and allow him to run the Indonesia business as a subsidiary of Grab, the people said. The 38-year-old would also face less dilution of his personal stake.
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