Jakarta. Indonesia’s sovereign wealth fund Danantara has denied any official discussions regarding the acquisition of a minority stake in tech giant GoTo, following media speculation about its potential involvement in a merger deal.

In a statement issued on Monday, Danantara’s Managing Director of Investment, Stefanus Ade Hadiwidjaja, said the fund has not initiated any formal review or assessment related to a possible investment in GoTo.

“There are currently no discussions regarding this matter,” Ade said. “In principle, Danantara Indonesia remains open to investment opportunities that align with our mandate to strengthen strategic sectors and contribute to national economic value creation.”

The statement comes in response to a Bloomberg report published last Friday, which claimed Danantara was considering participation in a proposed $7 billion merger between GoTo and Singapore-based ride-hailing firm Grab.

Neither GoTo nor Grab has publicly confirmed the potential merger, which has become a major topic of speculation in the regional tech and investment space.

Ade stressed that Danantara adheres to a strict evaluation process before committing to any investment. “Every investment decision is made selectively, following a comprehensive review, sound risk management principles, and a clear view of sustainable returns for the state,” he added.