Jakarta – According to Guntur Syahputra Saragih, Vice Chairman of the Indonesia Competition Commission (KPPU), the combination of Gojek and Tokopedia to establish GoTo did not violate commercial competition.
“The decision was made following a comprehensive review of the aspects emerging from the merger,” KPPU Vice Chairman Guntur Syahputra Saragih said in a written statement received in Jakarta on Tuesday.
Saragih stated that the merger of some industries or enterprises might result in market concentration. However, because Gojek and Tokopedia are technology businesses focused on digital services, they have a diverse market and do not promote market concentration.
“In essence,” Saragih added, “the GoTo merger has no meaningful consequence.”
In line with this, Aru Armando, KPPU’s Director of Mergers and Acquisitions, confirmed several impact analyses related to the Gojek-Tokopedia merger being conducted by the assessment commission team and the secretariat, including the impact of market entry barriers, the effect of anti-competition, and the impact of unilateral behavior.
“The conclusion that can be taken is that there are no major signs of the possibility of unfair commercial rivalry,” Armando remarked.
As a result, the KPPU allowed the merger or purchase of shares since there was no monopolistic behavior or unfair competition in the company’s takeover of shares.
Gojek had already notified the KPPU of its intention to combine with Tokopedia on August 9, 2021. This was done in accordance with KPPU laws, which provide that when a merger or acquisition deal satisfies specific conditions, the KPPU must be notified.