JAKARTA (Reuters) – SoftBank-backed ride hailer Intervene in the talks to join FOCUS, an Indonesian, a digital payments firm, which he shares with the anti-Financial-backup-peer-to-build-weight-and power-ahead of the rival Gojek, people familiar with the matter said.
FILE PHOTO: A Suit and logo will be displayed at the Money 20/20 Asia pacific Fintech event in Singapore, March 21, 2019. REUTERS/Anshuman Daga/File Photo
In a deal that would see Singapore-based Extract will buy a majority stake in the anti-back-HE is of the Indonesian media conglomerate, Elang Mahkota Technology (Emtek), and to add to that, along with the FOCUS, ” she said.
It may help to FOCUS-HE will dominate Gojek in Indonesia is a multi-billion-dollar online payments market. The FOCUS is, and Gojek have been battling it out for the top spot in the payments made since the end of 2018, with the DANE not far behind.
Grab Gojek are the top two start up brands in South east Asia, with a total value of $14 billion and $ 10 billion, respectively, according to sources. They will be competing in a range of areas, including financial services, e-commerce, will ride from and to the food supply.
“It’s part of the Pick-Gojek started,” said one of the sources said.
The plan also highlights the increasing competition in Indonesia in a digital payment system that will piggyback on the country’s booming e-commerce market, and 260 million people.
Take it and FOCUS declined to comment, as HE said it does not comment on market rumours. The people declined to be named as the discussions are private, and will continue to be at an early stage.
Emtek, Ant, Financial, and SoftBank does not immediately respond to requests for comment.
It was not immediately clear how much of a deal it would be worth it. Finance, Asia pacific, citing sources, puts the FOCUS of the latest valuation of $2.9 billion. HE’s rating it could not be fixed immediately.
The overall structure of the deal, it would have to be negotiated with the central bank, foreign ownership restrictions, the sources said.
Take the exact property from the seaside promenade, it could not be ascertained, but sources said that it was in possession of a good bet. Emtek owns more than 50% of the company’s name is DANA, which was founded in 2017 by means of a tie-up with third-party Ant.
The talks for a merger follow the SoftBank Group Corp.’s announcement in July it will invest $2 billion into Indonesia through the Act.
They turned, Extract’s largest shareholder, supports the proposal, the sources said. The plan has been discussed with top Indonesian officials, with the Japanese firm’s CEO Masayoshi Son, visited Jakarta in July, a source with knowledge of the talks said.
“My son is in the benefit,” the person said.
THE ANT’S FEAR OF
SoftBank is an important link in the chain Grab, it is due to the use of the expand in the region, and with the Pack’s founder, Anthony Tan, the use of the connection to persuade the Indonesian e-commerce company, Tokopedia, to be supported by SoftBank and Chinese e-commerce giant Alibaba, to acquire a controlling interest in the FOCUS earlier this year, the sources said. Tokopedia, said it does not comment on rumors.
But Ant Financial, the financial services affiliate of Alibaba, has raised doubts about the deal due to the differences in the ratings, and it will also take a leading role in the digital payment expansion in the region, the sources said.
Ans also, if you deal in the war, such a payment is to build partnerships with local partners in Malaysia, Thailand and the Philippines, ” she said.
The companies which operate in the Indonesian market for digital payments will be promising. More than half of Indonesians do not have bank accounts, and they are making more and more use of smart phones for business transactions.
Local payment companies, have attracted great interest from foreign tech giants, and that the extension of driving in Indonesia has to be put off by the tough licensing requirements.
Reuters reported last month that Facebook Inc. ‘ s messenger, WhatsApp, has been in talks with several Indonesian digital payment companies offering mobile transaction services.
The FOCUS is also in the hands of the Indonesian conglomerate called Lippo, and is the official payment partner of the Extract are in the country, while the Gojek is backed by strategic investors, such as the Alphabet, Inc., Google and Mastercard.
HE was originally created to be embedded in the once massively popular messaging app, Blackberry Messenger will be in 2017, is one of the many digital payment companies, Ant that it has interests in Asia, including in India’s Paytm, and Thailand, TrueMoney.
Reporting Fanny Potkin in Jakarta; Additional reporting by Sam Nussey, in Tokyo, Paresh Dave, San Francisco; Editing by Miyoung Kim and Muralikumar Anantharaman