Evaluating Indonesia’s Merger Control: The Case for Mandatory Pre-Merger Notification
DOI:
https://doi.org/10.15575/vh.v8i1.54708Keywords:
Merger Notification, Pre-Merger Regime, KPPU, Business Competition, Corporate ComplianceAbstract
Indonesia's merger, acquisition, and consolidation notification regulations currently follow a Post-Merger Notification regime under Law No. 5 of 1999 and Government Regulation No. 57 of 2010. However, this ex-post supervision is ineffective at preventing monopolistic practices and unfair competition, as post-facto transaction cancellations create legal uncertainty, reputational damage, and financial losses for business actors. This study evaluates the effectiveness of the current notification mechanism and analyses the urgency of transitioning to a Pre-Merger Notification regime. Using doctrinal legal research with statutory and conceptual approaches, the findings show that the post-notification system focuses heavily on administrative late-reporting penalties. At the same time, voluntary pre-transaction consultations remain inefficient because post-notification remains mandatory. Furthermore, the Business Competition Supervisory Commission (KPPU) faces operational constraints, including a rigid 90-day assessment timeframe and difficulty obtaining relevant market data, particularly for high-value digital startup acquisitions that do not meet the asset/turnover thresholds. Consequently, this study advocates for a regulatory shift toward a mandatory Pre-Merger Notification regime to enable early ex-ante prevention of anti-competitive practices, provide legal certainty for business actors, and reinforce KPPU's supervisory function to foster a fair business climate in Indonesia.
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