Indonesia’s antitrust agency said on Wednesday that the acquisition of Tokopedia by TikTok could pose a risk of monopoly in the country’s digital market. The statement comes nearly a year after the deal was finalized.

TikTok, owned by Chinese tech giant ByteDance, completed the purchase of a 75.01% stake in Indonesia’s largest e-commerce platform Tokopedia in January 2024 for $840 million. The seller was local tech holding GoTo.

The deal was agreed upon in December 2023 and has since drawn scrutiny from regulators. According to the antitrust agency, the merger of a popular social media platform with a dominant online retailer may undermine market competition and create a monopolistic position in Indonesia’s e-commerce sector.