News Snapshot:
China’s market regulator has dished out 22 fines of half a million yuan each to the country’s Big Tech firms, including Alibaba Group Holding, Tencent Holdings, and Didi Chuxing for a series of irregularities related to merger deals over the past decade. The fines were announced by the State Administration for Market Regulation (SAMR) on Wednesday, and while a fine of 500,000 yuan (US$77,000) is relatively small change for the country’s Big Tech firms, it is the maximum amount allowed under China’s antitrust law for merger deal transgressions. Some of the deals receiving punishment occurred before SAMR was formed in...
