GoTo Jumps on Report Danantara to Be Involved in Grab Merger

The GoTo Gojek Tokopedia head office in Jakarta.Photographer: Rosa Panggabean/Bloomberg

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By Bernadette Toh

November 10, 2025 at 2:22 AM UTC

Updated on

November 10, 2025 at 9:45 AM UTC

GoTo Gojek Tokopedia shares surged to the highest level in five months, after an Indonesian government official said the Southeast Asian nation’s sovereign wealth fund, Danantara, is set to be involved in a plan to combine its parent with rival Grab Holdings Ltd.

Shares of GoTo closed 9.8% higher, after climbing as much as 13% earlier. Indonesia’s State Secretary Prasetyo Hadi told reporters on Friday that several ministries are participating in the discussions about the potential deal between Grab and GoTo Group. Grab rose as much as 6.3% in premarket trading on Monday in New York.