PRE-MERGER AND ACQUISITION ASPECTS REFER TO THE MERGER ISSUES BETWEEN OVO AND DANA WITH POTENTIAL ASPECTS WHICH CAN LEAD TO MONOPOLISTIC PRACTICES AND UNFAIR BUSINESS COMPETITION BASED ON LAW NO. 5 OF 1999

Abstract

The current development of the digital era, there have been many innovations in technology that are closely related to daily life. Such as the development of digital payment instruments which are now popular in Indonesia, and are commonly referred to as electronic wallets (e-Wallet). There are many kinds of e-wallet in Indonesia, such as Ovo, Dana, Gopay, Shopeepay, Flip, Sakuku, Link Aja, and so on. The emergence of the E-wallet cannot be separated from several Start-Up companies that has status as Unicorn and Decacorn companies who are competing to spread their business in Indonesia. In addition, due to the rise of e- wallet, not a few start-up companies are conducting Mergers And Acquisitions (M&A) as a way to expand their business in various aspects. Besides, one of the issues of business expansion in the e-wallet sector is rumored to be carried out by OVO and Dana, which will merge. However, the merger of OVO and Dana could also potentially lead to monopolistic practices and unfair business competition in the e-wallet market share in Indonesia. Due to these legal issues, the authors conducted this research which aims to understand a legal aspect and legal regulations related to the pre-merger and acquisition aspects and the potential for monopolistic practices and unfair business competition in the OVO and Dana merger activities which refers to Law no. 5 of 1999 concerning the Prohibition of Monopolistic Practices and Unfair Business Competition.