Indonesia's Telkom in talks to buy stake in Go-Jek

Jakarta-based Go-Jek is set to expand in South-east Asia, starting with Go-Viet in Vietnam and GET in Thailand. It is also looking to move into the Philippines and Singapore, where it will face off against Singapore-based Grab. According to earlier r
Jakarta-based Go-Jek is set to expand in South-east Asia, starting with Go-Viet in Vietnam and GET in Thailand. It is also looking to move into the Philippines and Singapore, where it will face off against Singapore-based Grab. According to earlier reports, the ride-hailing and logistics services firm has been in talks to raise at least US$2 billion (S$2.75 billion) to expand its business.ST PHOTO: LIM YAOHUI

Negotiations come amid ride-hailing firm's plans to expand in region, including S'pore

Just before Go-Jek launches its ride-hailing service in Singapore and goes head-to-head with Grab in the region, it may have found another investor to lend it even more financial muscle.

Indonesia's largest telecommunications services provider Telkom is in talks to buy a stake in Go-Jek, which began its business as a ride-hailing company in Jakarta.

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A version of this article appeared in the print edition of The Straits Times on November 16, 2018, with the headline 'Indonesia's Telkom in talks to buy stake in Go-Jek'. Print Edition | Subscribe