The government said about the Gojek-Tokopedia merger issue

JAKARTA, KOMPAS.com – Coordinating Minister for the Economy Airlangga Hartarto opened his voice regarding the news of the merger or merger of two Indonesian unicorns, Gojek and Tokopedia.

He said the government could not comment on the corporate actions of the two unicorns because it was in the private sphere.

“That is the private sector, of course the government cannot comment so far (the merger) has not occurred, and it is a business,” said Airlangga in a virtual press conference, Thursday (21/1/2021).

Also read: The number of MSMEs selling on Tokopedia soars by more than 2.5 million during 2020

According to Airlangga, a merger of two companies is possible in the business world, especially if the company decides to take the floor in the capital market.

He said, until now there has not been a single Indonesian unicorn that has IPO on the Indonesia Stock Exchange (IDX).

Airlangga added, the current regulations are often not possible for most startups to IPO, because they have to book profits for two consecutive years.

“But if there are 1-2 unicorns that can take the floor on the stock exchange, of course this will also encourage good transparency, and can involve the public more (in share ownership),” he said.

Also read: Observer: The Gojek-Tokopedia Merger is a Win Win Solution …

Previously, Gojek and Tokopedia were rumored to be merging.

This corporate action will create a technology giant with a value of more than 18 billion US dollars, or around Rp 250.2 trillion (exchange rate of Rp 13,900).

Reported Bloomberg, news of the merger is in line with Tokopedia’s plan to conduct an IPO.

In the next few months, it is reported that the two parties will be ready to reach an agreement with the progress of the merger negotiations currently underway.

Also read: These are Tokopedia’s Notes for 2020

Gojek and Tokopedia’s valuation was US $ 10.5 billion and US $ 7.5 billion, respectively.

The founders of both parties of the company have been friends since more than 10 years, and have anticipated a partnership between the two.

– .