Friday, 24 March, 2023

China begins antitrust probe into Alibaba

<p>China has launched an antitrust investigation into Alibaba Group and will summon the Ant Group affiliate to meet. The probe is part of a crackdown on monopolistic behaviour in the country&#39;s booming internet industry, and the latest setback for Ma, China&#39;s most famous entrepreneur. Last month, China suspended Ant&#39;s planned $37 bn IPO, which was on the track to become the world&#39;s largest, just two days before the official launch in Shanghai and Hong Kong.</p> <p>&nbsp;</p>