Regulators rejected Gojek’s application twice this year for breaching the 40% foreign-ownership limit. FMTNews Gojek
MANILA: Indonesian ride-hailing startup Gojek has reapplied to enter the Philippines and face off with Grab Holdings Inc, which controls about 90% of the market.
Regulators have rejected Gojek’s application twice this year for breaching the 40% foreign-ownership limit for public transport services, as its local unit Velox Technology Philippines Inc was wholly-owned by a Singaporean firm.
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