JAKARTA, June 18 (Reuters) - Indonesia's antitrust

agency has given its "conditional" blessing to last year's

takeover of the country's biggest e-commerce platform Tokopedia

by TikTok after ending its probe into potential monopoly risks,

it said on Wednesday.

TikTok, owned by China's ByteDance, completed a deal in

January 2024 to buy 75.01% of Tokopedia for $840 million from

GoTo.

The antitrust agency (KPPU) said it had given conditional

approval to the deal after Tokopedia and TikTok agreed to comply

with all the requirements asked of them.

During a previous investigation process, the agency found a

significant increase in market concentration and the possibility

of post-acquisition price increases due to market dominance.

The agency then listed several requirements for TikTok and

Tokopedia, including guaranteed open methods for payment and

logistics and measures to prohibit predatory pricing.

A TikTok spokeperson said they respect and appreciate KPPU's

decision on the conditional approval.

"Fair competition principles have been part of our approach

from the start, and we remain committed to implementing them

consistently to support a fair and inclusive digital ecosystem,"

the spokesperson said.

Tokopedia did not immediately respond to a request for

comment.

The agency will continue to monitor whether the requirements

are being implemented until June 17, 2027, it said in a press

release.

The antitrust agency has the power to investigate and

determine violations of competition law and impose fines or

issue administrative sanctions, based on their findings.