Grab Holdings‘ planned multibillion-dollar acquisition of GoTo Group has hit a stumbling block.
Negotiations over the deal have snagged over Indonesian wireless carrier Telkomsel’s roughly 2% stake in GoTo, people familiar with the matter said.
The carrier — majority-owned by state-controlled PT Telkom Indonesia — has indicated it’s unwilling to sell at anywhere near current valuations because it originally invested at a much higher price, the people said. Telkomsel has expressed its concerns about losses linked to state capital — something…
