China launches anti-monopoly investigation into Alibaba
Move follows China's dramatic suspension in November of Ant's planned $37bn IPO
24 December 2020 - 07:45
Shanghai/Hong Kong — China has launched an anti-monopoly investigation into Alibaba and will summon the tech giant's Ant affiliate to meet in coming days, regulators said on Thursday, in the latest blow for Jack Ma's e-commerce and fintech empire.
The probe is part of an accelerating crackdown on monopolistic behaviour in China's booming internet space, and the latest setback for Ma, the 56-year-old former schoolteacher who founded Alibaba and became China's most famous entrepreneur...
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