World News: 06:25 GMT Wednesday 11th September 2019. [Yahoo Business News Feed via SPi World News]
SoftBank-backed ride hailer Grab is in talks to merge OVO, an Indonesian digital payments firm in which it owns shares, with an Ant Financial-backed local peer to build heft and power ahead of archrival Gojek, people familiar with the matter said. A deal would see Singapore-based Grab buy a majority interest in Ant-backed DANA from Indonesian media conglomerate Elang Mahkota Teknologi (Emtek) and merge it with OVO, they said. It could help OVO-DANA dominate Gojek in Indonesia's multi-billion dollar online payments market.
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