Indonesia: Competition highlights Q3 2022

30 Sept 2022    2 minute read

In brief

This features Q3 2022 competition highlights in Indonesia.

Contents

ICC soon to introduce merger filing fees 

Parties notifying transactions to the competition authority may soon have to pay filing fees of up to IDR 150 million (approx. USD 10,000)

Currently, merger filing is free in Indonesia. Although the regulation is not yet issued, the proposal is that parties should pay IDR 5 million (around USD 330) upon making the initial filing to the ICC, and the competition authority will then assess and set out the filing fee based on a formula and value of the transaction, up to the said maximum.

ICC has been seeing a significant increase in the number of filings that it has to process, particularly since it asserted authority to review asset acquisitions in 2019. Recently, this increase to its workload have started to cause ICC to use up the maximum 150 working days allowed by its own regulation to complete review of simple transactions that have no competition impact.

ICC clears major telecoms deal unconditionally

The recently approved telecoms transaction followed another unconditionally cleared deal in March 2022, involving two of Indonesia's largest technology companies.

ICC continues its light touch approach in assessing the competition impact of deals. In March 2022, ICC unconditionally cleared the merger of Gojek and Tokopedia which resulted in the creation of GoTo group, following a comprehensive review of this deal. More recently, in September 2022, ICC also unconditionally cleared the merger of Indosat and 3, both are mobile network operators following a comprehensive review.

ICC will assess each transaction differently based on their respective merits, including in assessing whether and what remedy is appropriate should they have concerns with the transaction. Most commonly, ICC will require periodic reporting of prices and production for up to three years.

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Jakarta
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