Indonesia says e-commerce firm Shopee admits to violating monopoly rule [Yahoo! Finance]
Sea Limited American Depositary Shares, each representing one Class A Ordinary Share (SE)
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Source: Yahoo! Finance
The agency also said Shopee has agreed to make adjustments to its operating practices. Shopee did not immediately respond to a request for comment regarding the agency's statement. The agency, known as KPPU, had accused Shopee's local unit of violating anti-competition rules by directing customers to use certain delivery services, one of which has a Shopee Indonesia executive on its board of directors. Shopee, the market leader in Indonesia's fast-growing e-commerce sector, is owned by Southeast Asian technology firm Sea Ltd. Aside from Shopee, KPPU was also investigating the local unit of another e-commerce platform Lazada, the Southeast Asian arm of Alibaba. (Reporting by Stefanno Sulaiman; Editing by John Mair)
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