News Snapshot:
China’s market regulator announced on July 10 that it has fined technology behemoths Tencent and Alibaba as well as a number of other companies for breaking anti-monopoly regulations regarding the disclosure of transactions. A list of 28 transactions that broke the rules was published by the State Administration for Market Regulation (SAMR). As reported, there were 5 Alibaba entities engaged, including a 2021 purchase of ownership in its subsidiary, the streaming service Youku Tudou. Additionally, 12 of the transactions on SAMR’s list involved Tencent. One of the key targets of a campaign against monopolistic behaviour that began in late 2020...
