Page 12 - New Classics News Today : Breaking News, Live Updates & Top Stories | Vimarsana

China fines Alibaba, Tencent for failing to report past deals to anti-trust regulators Toggle share menu Advertisement China fines Alibaba, Tencent for failing to report past deals to anti-trust regulators China's market regulator said on Monday it will fine Alibaba Group, Tencent Holdings-backed China Literature and Shenzhen Hive Box 500,000 yuan (US$76,464.29) each for not reporting deals properly for anti-trust reviews. FILE PHOTO: A logo of Alibaba Group is seen during Alibaba Group's 11.11 Singles' Day global shopping festival at a media c...

Share: Alibaba Group Holding Ltd (NYSE: BABA) has been fined by the Chinese market regulator for not reporting past deals properly, Reuters reported Monday (Shanghai time). What Happened: The State Administration of Market Regulation fined Alibaba $76,464.29 (RMB 500,000) after it reviewed the company’s deal with Intime Retail (Group) Co Ltd, according to Reuters. The market regulator also fined Chinese technology conglomerate Tencent Holdings Ltd (OTC: TCEHY) the same amount after it looked into its deal with New Classics Media. Why It Matters: In 2017, the Jack Ma-led Chinese group made ...

China's Alibaba, Tencent unit fined under anti-monopoly law by Zen Soo, The Associated Press Posted Dec 14, 2020 3:49 am EDT Last Updated Dec 14, 2020 at 3:58 am EDT HONG KONG — China’s market regulator on Monday said it fined Alibaba Group and a Tencent Holdings-backed company for failing to seek approval before proceeding with some acquisitions. It also is launching a review of a merger of two online streaming platforms in the latest tightening of controls over the internet sector. In a statement, China’s State Administration for Market Regulation said Monday that it fined Alibaba 500...