A PYMNTS Company

Indonesia Grants Conditional Approval to TikTok’s Tokopedia Acquisition

By  |  June 18, 2025

Indonesia’s competition watchdog has formally concluded its investigation into the acquisition of leading e-commerce platform Tokopedia by social media giant TikTok, offering a “conditional” green light to the transaction, according to Reuters.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The $840 million deal, finalized in January 2024, gave TikTok a controlling 75.01% stake in Tokopedia, previously owned by Indonesian tech conglomerate GoTo. The acquisition had drawn scrutiny from Indonesia’s antitrust agency, the KPPU, over concerns that it could lead to excessive market dominance and anti-competitive behavior in the fast-growing digital commerce sector.

    According to Reuters, the KPPU stated that while the merger did raise red flags—including a notable surge in market concentration and risks of post-merger price hikes—it would allow the acquisition to proceed under strict conditions. Both Tokopedia and TikTok agreed to implement safeguards to prevent monopolistic practices.

    Read more: Indonesia’s Antitrust Watchdog Raises Monopoly Concerns Over TikTok-Tokopedia Merger

    Among the agency’s stipulations are commitments to ensure open and fair access to logistics and payment systems, as well as specific measures aimed at curbing predatory pricing—a tactic where products are sold below cost to eliminate competitors. Per Reuters, the KPPU emphasized that these obligations are intended to preserve healthy competition and protect small and medium-sized enterprises in the digital marketplace.

    TikTok welcomed the decision, with a spokesperson saying the company “respects and appreciates KPPU’s decision on the conditional approval.” They reiterated TikTok’s ongoing commitment to upholding fair competition as part of its broader strategy for a “fair and inclusive digital ecosystem.”

    The KPPU will continue to oversee the enforcement of these conditions through June 17, 2027. Should any of the terms be violated, the agency retains the authority to impose penalties or take administrative action based on its findings.

    Source: Reuters