KPPU issues a conditional approval for TikTok’s acquisition of Tokopedia

The Indonesia Competition Commission (Komisi Pengawas Persaingan Usaha, KPPU) recently assessed an acquisition by TikTok Nusantara (SG) Pte. Ltd. (TikTok) of 75.01% of the shares in PT Tokopedia (Tokopedia), following mandatory notification of the transaction. According to a press release dated 28 May 2025, KPPU concluded that the transaction posed potential anti-competitive risks and subsequently issued a conditional approval which must be fulfilled by TikTok and Tokopedia.

Partner Verry Iskandar, Senior Associate Valeri Soekarno, and Foreign Counsel Robert Reid provide brief insights into the conditional approval issued by KPPU in relation to potential anti-competitive concerns arising from a mergers and acquisitions case.

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