Alibaba hit with record $2.8 billion antitrust fine in China
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.