Indonesia’s Business Competition Supervisory Commission (KPPU) reported on Monday that it has fined the social network TikTok 15 billion rupiah (about $898,462 or 766,084 euros) for late notification of the partial acquisition of the e-commerce platform Tokopedia.
The antitrust agency explained in a statement that the operation granted TikTok a 75.01% stake in Tokopedia, which came into effect on January 31, 2024, so the notification should have been submitted no later than March 19, 2024, although it does not clarify the date on which it did so.
“TikTok acknowledged the delay, did not question the KPPU’s findings, cooperated throughout the investigation, and had no history of violations. These factors serve as mitigating circumstances,” reads the document.
The regulatory body indicated that TikTok, whose parent company is the Chinese ByteDance, must deposit the amount for which it has been fined into the Indonesian public treasury within 30 days.
TikTok also faces proceedings in other regions, including Europe, where the European Commission (EC) concluded in May that it violates the Digital Services Act (DSA) by not publishing an ad repository, which opens the door to a fine if confirmed and the Chinese company does not adequately rebut it.
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Another process surrounding the platform is the executive order that the President of the United States, Donald Trump, signed last week to guarantee the legal operation of TikTok in the North American country, after an agreement with China, which has not been fully confirmed by the Asian giant.
