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FINWIRES

Indonesia's Sovereign Wealth Fund Buys Less Than 1% Stake in GoTo

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-- Indonesia's sovereign wealth fund Danantara purchased less than 1% equity interest in GoTo Gojek Tokopedia (IDX:GOTO), the technology firm said in a Tuesday Indonesia bourse filing.

The statement, which confirmed several media reports, comes amid the government's plan to cut ride-hailing commission fees.

The Indonesian government is planning to increase the revenue share of driver partners at ride-hailing companies to at least 92% from 80%, Reuters reported May 1.

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