Chinese regulators fine tech giants over anti-monopoly violations

Chinese tech giants Alibaba Group and Tencent Holdings were fined as they failed to report corporate acquisitions. The State Administration for Market Regulation said that the companies have failed to report 43 acquisitions, occurred around eight years ago under rules on "operating concentra...

CHINESE REGULATOR MAKES ALIBABA GROUP PAY $2.8 BILLION AS FINE

Highlights –

• Chinese regulator makes Alibaba Group pay $2.8 billion as fine.
• Alibaba Group has been fined for anti-competitive tactics.
• Alibaba accepted the penalty and has said to comply the same with determination.
• Tencen...