Designer Jony Ive and OpenAI’s Sam Altman Discuss AI Hardware ProjectRead more

Briefing
asia

Southeast Asia’s Grab Raises Stake in Payment Firm Ovo

By
Juro Osawa
· · Source: Bloomberg

Grab, Southeast Asia’s major ride-hailing and food delivery app, has increased its stake in Indonesian digital payment service Ovo to about 90%, Bloomberg reported. In the deal, Grab bought some Ovo shares that were owned by Indonesian e-commerce company Tokopedia. The restructuring of Ovo’s ownership comes after Tokopedia struck a deal earlier this year to merge with Indonesian ride-hailing...

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