The deal was approved with a set of conditions related to payment methods, logistics, and pricing policy.
Indonesia’s antitrust agency KPPU has granted conditional approval for TikTok’s acquisition of Tokopedia, the country’s largest ecommerce platform.
This decision follows an investigation into potential monopoly risks associated with the US$840 million deal, which was finalized in January 2024.
TikTok acquired a 75.01% stake in Tokopedia from GoTo.
KPPU’s approval is dependent on compliance with specific requirements, including maintaining open payment and logistics methods and avoiding predatory pricing practices. The KPPU's requirements also include submitting reports every three months, which includes total income from e-commerce business activities along with their sources of income and the percentage and/or value of fees charged to sellers in five categories.
Both companies are also required to submit the entire list of companies providing delivery services and payment services that collaborate with them and any changes every six months, for two years from the date of the verdict.
The agency’s investigation identified concerns about increased market concentration and potential price hikes.
In imposing the remedies, the regulator stated that TikTok Nusantara’s acquisition of PT Tokopedia shares has the potential to lead to monopolistic practices or unfair business competition. It also announced that compliance with these conditions will be monitored until June 17, 2027. Both TikTok and Tokopedia accepted the verdict and decided not to challenge it.
Sources: Tech in Asia, MLex
