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Alibaba and Tencent Fined by Chinese for Violating Anti-Monopoly Laws

By
Shai Oster
· · Source: Bloomberg

Chinese regulators fined Alibaba and Tencent for violating anti-monopoly laws by failing to disclose previous acquisitions. The fines, for about $76,000, amounted to a symbolic slap on the wrist for the internet giants, but show the government is paying more attention to their deals. Bloomberg reported that Alibaba was fined for not disclosing that it had raised its stake in a department...

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