Thiel-backed Bridgetown mulls merger with Indonesia's PT Tokopedia - Bloomberg News (updated)

MoneyHero

15/12/2020 12:14

(Adds details from report, shares)
    Dec 15 (Reuters) - Blank-check acquisition firm Bridgetown
Holdings Ltd  BTWN.O  is considering a merger with Indonesian
e-commerce firm PT Tokopedia, Bloomberg News reported https://www.bloomberg.com/news/articles/2020-12-15/thiel-backed-spac-said-to-weigh-up-to-10-billion-tokopedia-deal?sref=WJKVI5nK&utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter&utm_content=asia&cmpid%3D=socialflow-twitter-asia
 on Tuesday, citing people familiar with the matter.
    Tokopedia, backed by SoftBank Corp  9434.T , could be valued
between $8 billion and $10 billion in a deal, the report said.
Deliberations are at a preliminary stage and Bridgetown could
still look at other potential targets, it added.
    Founded in 2009, Tokopedia provides an online marketplace
that allows individuals and businesses in Indonesia to open
their own online stores.
    Bridgetown, backed by billionaires Peter Thiel and Richard
Li, and Tokopedia did not immediately respond to Reuters'
requests for comment.
    Bridgetown's shares soared 25% in premarket trading after
the report.

 (Reporting by Ayanti Bera in Bengaluru; Editing by Maju Samuel)
 ((Ayanti.Bera@thomsonreuters.com;))