The Indonesian Business Competition Supervisory Commission (KPPU) has imposed a fine of Rp15 billion (US$967,741) on TikTok Nusantara (SG) Pte. Ltd. for failing to timely notify the acquisition of a majority stake in PT Tokopedia. 

The decision was announced during a commission hearing on Monday, September 29, 2025, led by Chief Commissioner Rhido Jusmadi alongside Commissioners M. Fanshurullah Asa and M. Noor Rofieq, held at KPPU’s Jakarta headquarters.

“The acquisition involved Tokopedia, a major player in Indonesia’s e-commerce sector, and TikTok, which established TikTok Nusantara specifically for this transaction. The purpose of the acquisition was to re-enter the Indonesian e-commerce market by partnering with Tokopedia, which would allow the separation of social media and e-commerce systems,” KPPU said in a statement on Monday, September 29, 2025.

“TikTok now controls 75.01 percent of Tokopedia’s shares, with the remaining 24.99 percent held by PT GoTo Gojek Tokopedia. The deal became legally effective on January 31, 2024, and the deadline for notifying the KPPU was March 19, 2024,” it added.

KPPU had initially received the notification from TikTok Pte. Ltd., but it was not filed by the correct entity, TikTok Nusantara (SG) Pte. Ltd., which was the entity responsible for the acquisition. As the notification was not submitted by the due date, KPPU canceled the original notification on August 7, 2024, and began an investigation into the delay. TikTok Nusantara (SG) was found to have missed the notification deadline by 88 business days.

KPPU emphasized that every share acquisition must be reported in accordance with legal requirements. The commission also noted that TikTok Nusantara’s use of a special purpose vehicle (SPV) for the transaction raised concerns about potential abuse to bypass legal obligations. Although KPPU had previously conditionally approved the acquisition, considering that it did not negatively impact market competition, the administrative failure was still classified as a violation. KPPU reaffirmed that conditional approval does not exempt companies from meeting notification deadlines.

During the hearing, TikTok Nusantara acknowledged the delay, cooperated fully with the investigation, and had no prior violations, factors which were considered in reducing the penalty. Nevertheless, KPPU imposed a fine of Rp15 billion, which must be paid into the state treasury within 30 days after the decision becomes legally binding.

KPPU reaffirmed its commitment to ensuring compliance with the reporting requirements for mergers, consolidations, and acquisitions. The commission stressed that administrative compliance is crucial for fostering healthy business competition in Indonesia.