Bridgetown Holdings Ltd (BTWN)

[Golden Cross]

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

Dec 15 (Reuters) - Blank-check acquisition firm Bridgetown Holdings Ltd is considering a merger with Indonesian e-commerce firm PT Tokopedia, Bloomberg News reported here on Tuesday, citing people familiar with the matter.

Tokopedia, backed by SoftBank Corp, 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.

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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)