Singapore-based ride-hailing/delivery platform Grab is seeking to raise $2 billion to acquire rival GoTo.
Grab is in talks to obtain a bridge loan for the deal, with a potential total acquisition value of $7 billion.
GoTo CEO Patrick Walujo confirmed discussions about a merger with Grab, considering options to enhance shareholders' return.
Regulatory scrutiny is expected as the potential combined company would be two of the largest ride-hailing and food delivery services in Southeast Asia.