Primary Taiwanese news agency Central News Agency (CNA) recently reported that TikTok, owned by China’s ByteDance, completed a deal in January 2024 to acquire 75.01 percent of Tokopedia, Indonesia’s largest e-commerce platform owned by GoTo, for US$840 million.
Indonesia’s antitrust authorities said yesterday that they found a significant increase in market concentration during their investigation and that there was a possibility that prices would rise after the acquisition due to market dominance. Based on the results of the investigation, the authorities have the power to rule on violations of competition laws and impose fines or issue administrative injunctions.
The Indonesian government has a list of requirements for TikTok and Tokopedia, including ensuring the openness of payment and logistics systems and prohibiting self-preferencing and predatory pricing practices. The authorities also required the two companies to submit reports every three months for two years, and to provide a list of logistics and payment partners before and after the acquisition, as well as the agreements with them.
Source: CNA, May 29, 2025
https://www.cna.com.tw/news/aopl/202505290375.aspx