Grab Holdings is in discussions with banks to arrange a bridge loan to fund its potential acquisition of rival GoTo Group, according to two sources familiar with the matter.

Singapore-based ride-hailing and delivery platform Grab is in talks with JPMorgan and Morgan Stanley, said the two sources.

HSBC is also working on the bridge facility, the first source added.

The loan could be worth as much as USD 3bn, though the exact size is yet to be determined, said the first source.

The second source added that the loan is likely to be around USD 2bn.

HSBC declined to comment. Grab, JPMorgan, Morgan Stanley, and GoTo did not respond to requests for comments.

According to a Bloomberg report earlier this week, Grab is seeking a one-year loan of up to USD 2bn for the potential takeover. It is also considering a bond or equity takeout after sealing the bridge loan.

Bloomberg also reported on 18 March that Grab, backed by Uber Technologies, had begun due diligence on its Indonesian rival GoTo, and that it was moving forward with an acquisition. Grab has engaged in on-and-off discussions with GoTo, but a merger announcement has not materialized so far, partly due to antitrust concerns likely to arise from combining two dominant Southeast Asian tech companies, according to the report.

A day after that, SoftBank Group Corp-backed GoTo reiterated that there was no agreement with any party about a potential transaction.

GoTo has hired Goldman Sachs to advise on its potential merger with Grab, according to a Mergermarket report on 10 February.