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Gojek, Tokopedia Seek Investor Approval After Deciding Merger Terms

  • The startups’ management and boards are in agreement
  • Indonesia’s two largest startups could dominate the market
A Gojek driver checks his mobile phone in Jakarta.

A Gojek driver checks his mobile phone in Jakarta.

Photographer: Dimas Ardian/Bloomberg

Gojek and Tokopedia have decided on terms and are seeking investor approval for a merger that could create Indonesia’s largest internet company, a person familiar with the matter said, putting the deal on track for completion as soon as over the summer.

The managements and boards of both startups have agreed on how to proceed with the merger and are now formally seeking approval for the deal from shareholders through a so-called consent package, the person said, asking not to be identified discussing a private matter. The management teams are aligned on strategy and their boards have given significant support, the person added.