China launches antitrust investigation into tech giant Alibaba


Source: bollyinside.com bollyinside.com

Key Topics in this News Article:

News Snapshot:

Web Desk 2021-01-21 HONG KONG / BEIJING (Reuters) – China has launched an antitrust investigation into the Alibaba group and will summon the subsidiary of tech giant Ant Group to meet in the coming days, regulators said in the latest Thursday. blow to Jack Ma’s e-commerce and fintech empire. The probe is part of an accelerated crackdown on anti-competitive behavior in China’s booming internet space and the latest setback by Ma, the 56-year-old former school teacher who founded Alibaba and has become China’s most famous entrepreneur. This follows China’s dramatic suspension last month of Ant’s initial $ 37 billion public...