The Business Competition Supervisory Commission (KPPU) held the inaugural session of the Complete Assessment Commission on the alleged delay in notification of the takeover of shares of PT Tokopedia by TikTok Nusantara (SG) Pte. Ltd.
The trial took place on Tuesday, July 22, at the KPPU Office, Jakarta, with the agenda of reading the Report on Alleged Violations (LDP) by the Investigator.
KPPU investigators in the LDP suspect TikTok is late in submitting notifications for the takeover of shares for 88 working days, exceeding the time limit stipulated in statutory regulations.
"Referring to the provisions in Article 46 paragraph 5 letter (a) of KPPU Regulation No. 3/2023, the calculation of the day of the alleged delay is calculated after 30 working days of taking over juridical effective shares until the investigation into the alleged delay in notifications in the event that business actors do not make notifications," explained the Head of the KPPU Public Relations and Cooperation Bureau, Deswin Nur in his statement, Wednesday, July 23.
"Therefore, the Investigator suspects that there has been a delay in notification of the takeover of shares during 88 working days of the transaction, and is suspected of violating the provisions of Article 29 of Law Number 5 of 1999 jo. Article 55 of Government Regulation Number 57 of 2010," he added.
Deswin Nur explained that this trial was a continuation of the results of an investigation into the alleged violation of Article 29 of Law no. 5 of 1999, regarding the notification of the takeover of shares which was not submitted on time.
On June 17, 2025, KPPU issued a Conditional Approval Determination of Tokopedia acquisition transactions by TikTok, after both parties agreed on all terms and implementation schedules set by the Investigators.
The approval is the result of the KPPU's Complete Assessment to ensure that transactions do not cause potential monopolistic practices or unfair business competition as stipulated in Article 28 of Law no. 5 of 1999.
The effective date for the juridical takeover of shares will be on January 31, 2024, so that the notification deadline for KPPU is no later than 30 days or reported on March 19, 2024. The KPPU did receive a transaction notification on that date, but because the notification was submitted not by TikTok as the takeover party, the Commission Meeting on August 7, 2024 canceled the notification.
TikTok also did not submit a new notification until the specified time, so the investigation began on August 8, 2024. Referring to Article 46 paragraph 5 letter (a) of KPPU Regulation No. 3 of 2023, delays are calculated from 30 working days from the effective date of the transaction to the start of the investigation.
SEE ALSO:
SEE ALSO:
Based on this calculation, the delay reached 88 working days, which allegedly violated Article 29 of Law no. 5 of 1999 in conjunction with Article 55 of PP No. 57 of 2010.
The trial continued with an examination of the completeness and suitability of evidence and supporting documents. Furthermore, the agenda for the next trial is scheduled for August 5, 2025 with an agenda for Responding to Business Actors on Reports of Alleged Violations.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
