Technet: Daily Crunch - Alibaba faces antitrust probe

Thursday, December 24, 2020

Daily Crunch - Alibaba faces antitrust probe

The big story: Alibaba faces antitrust probe

China’s State Administration for Market Regulation said that it’s investigating the e-commerce giant over a policy that forces merchants to sell exclusively with Alibaba and skip rival platforms JD.com and Pinduoduo.

“Alibaba will actively cooperate with the regulators on the investigation," the company said in a statement. "Company business operations remain normal."

Meanwhile, Chinese authorities have already called off the initial public offering of Alibaba affiliate Ant Group, and the company has now received another “meeting notice” from regulators.

The big story: Alibaba faces antitrust probe image

Image Credits: Getty Images

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Image Credits: Alex Tai/SOPA Images/LightRocket / Getty Images

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