Jakarta, September 29, 2025 — Indonesia’s Business Competition Supervisory Commission (KPPU) has imposed a fine of IDR 15 billion (approximately $898,515) on TikTok Nusantara (SG) Pte. Ltd. for failing to timely notify the regulator about its acquisition of a majority stake in PT Tokopedia.
The transaction, which took effect on January 31, 2024, gave TikTok a 75.01% ownership stake in Tokopedia, while PT GoTo Gojek Tokopedia Tbk retained the remaining 24.99%. Under Indonesian merger control rules, the acquirer is required to notify KPPU within 30 business days after a transaction becomes legally effective — meaning the deadline in this case was March 19, 2024.
However, the initial notification was submitted by TikTok Pte, not by TikTok Nusantara (SG), the special purpose vehicle (SPV) established specifically for the acquisition. KPPU ruled that the notification was invalid because it was not filed by the correct entity.
When TikTok Nusantara failed to file the proper notification by the deadline, KPPU canceled the previous submission on August 7, 2024, and launched an investigation the following day. Based on KPPU’s findings, TikTok Nusantara was 88 business days late in fulfilling its legal obligation.
During the hearing, KPPU reiterated that all share acquisitions must be reported by the acquiring entity in accordance with Indonesian law. The commission warned that using an SPV could be misused to obscure legal responsibilities, and stressed that conditional approval of the merger does not exempt companies from administrative obligations.
While KPPU had previously approved the TikTok–Tokopedia merger with conditions and found no adverse effects on competition, it determined that the failure to file on time constituted an administrative violation.
TikTok Nusantara acknowledged the delay and did not dispute KPPU’s findings. The company cooperated throughout the investigation and had no prior record of violations — factors that the commission considered in determining the penalty.
KPPU ultimately imposed an IDR 15 billion fine, which TikTok Nusantara must pay to the state treasury within 30 days after the ruling becomes legally binding.
KPPU emphasized the importance of timely merger and acquisition notifications as a key component of Indonesia’s competition law framework. The regulator said administrative compliance ensures transparency and helps maintain a level playing field in the domestic market.
“Administrative compliance is a fundamental element in maintaining healthy competition in Indonesia,” KPPU said in its statement.
The ruling was delivered during a KPPU Commission Panel hearing chaired by Rhido Jusmadi, alongside members M. Fanshurullah Asa and M. Noor Rofieq, held at KPPU’s headquarters in Jakarta on Sunday (September 28).
Source: https://kppu.go.id/wp-content/uploads/2025/09/Siaran-Pers-No.066_KPPU-PR_IX_2025.pdf
