September 30, 2025 | 01:57 pm
TEMPO.CO, Jakarta - The Commission for the Supervision of Business Competition (KPPU) has imposed a fine of Rp15 billion, or approximately US$1 million, on TikTok Nusantara (SG) Pte. Ltd. for the late reporting of its majority share acquisition of homegrown e-commerce firm Tokopedia.
The decision was delivered by the Commission Board during a hearing at the KPPU Headquarters in Jakarta on Monday, September 29, 2025. The board, led by Rhido Jusmadi, declared that TikTok had violated the mandatory notification obligation for acquisitions, as required by Indonesian regulation.
Deswin Nur, Head of the KPPU’s Public Relations and Cooperation Bureau, stated that the decision is a reminder to all business entities to diligently fulfill merger and acquisition notification requirements.
The case stems from the stock acquisition by TikTok Nusantara, a specialized company for the acquisition, which resulted in TikTok holding 75.01% of Tokopedia's shares. The remaining 24.99% is held by PT Gojek Tokopedia Tbk.
"This acquisition aims to reintroduce TikTok to the Indonesian e-commerce market through a partnership with Tokopedia, while separating its social media and digital trading activities," Deswin explained in a written statement on Tuesday, September 30, 2025.
The acquisition transaction became effective on January 31, 2024. According to KPPU Regulation No. 3 of 2019, notification must be submitted no later than 30 working days after the effective date, a deadline that was missed.
In the hearing, Deswin noted that TikTok acknowledged the delay, did not dispute the KPPU’s findings, and cooperated during the examination. Since the company had no prior violations, these factors served as mitigation. Nonetheless, the KPPU imposed the Rp15 billion fine.
"This fine must be paid to the state treasury within 30 days of the legally binding decision," he said.
KPPU Regulation No. 3 of 2019 stipulates that acquisitions exceeding Rp2.5 trillion must be reported to the KPPU to prevent monopolistic practices and unfair business competition. The regulation also allows the KPPU to conduct a broader assessment, including analyses of technological development, MSME protection, and impact on labor, beyond the previously limited scope of market concentration analysis.
Eko Wahyudi contributed to the report
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