Alibaba hit with record $2.8 billion antitrust fine in China

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By Faria in Business
Updated 3 years ago

China’s antitrust regulator has imposed a fine equivalent to $2.8 billion against Alibaba Group Holding Ltd for abusing its dominant position over rivals and merchants on its e-commerce platforms, a record penalty in the country that comes amid a wave of scrutiny on the business empire of company founder Jack Ma.

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