TikTok has been fined 15 billion rupiah (US$898,630) by Indonesia’s competition authority, the KPPU (Commission for the Supervision of Business Competition), for failing to promptly notify regulators about its acquisition of a majority stake in Tokopedia.

KPPU said the penalty was decided at a hearing held in Jakarta on September 29.

TikTok acquired 75.01% of Tokopedia, an Indonesian ecommerce platform, with the remaining shares held by GoTo.

The transaction took legal effect on January 31, 2024, requiring notification to KPPU by March 19, 2024.

TikTok Nusantara (SG) Pte. Ltd., the entity handling the acquisition, admitted to the late notification during the hearing.

KPPU said TikTok cooperated throughout the process and had no prior violations, which were considered when imposing the fine.

TikTok must pay the penalty within 30 days after the decision becomes legally binding.

🔗 Source: Komisi Pengawas Persaingan Usaha

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