HT TECH wants to start sending you push notifications. Click allow to subscribe
Latest Tech News Tech Tech News China Watchdog Fined Alibaba, Tencent Over Reporting Past Deals

China Watchdog Fined Alibaba, Tencent Over Reporting Past Deals

China’s antitrust watchdog fined companies including Alibaba and Tencent. for not properly reporting past transactions.

By: BLOOMBERG
Updated on: Aug 22 2022, 13:40 IST
Tencent was fined a combined 6 million yuan over 12 acquisitions, while Alibaba’s subsidiaries were fined 2.5 million yuan.  (AP)

China’s antitrust watchdog fined companies including Alibaba Group Holding Ltd. and Tencent Holdings Ltd. for not properly reporting past transactions, according to a statement Sunday from the State Administration for Market Regulation. 

Tencent was fined a combined 6 million yuan ($896,245) over 12 acquisitions, while Alibaba’s subsidiaries were fined 2.5 million yuan for not reporting five deals, the statement showed. SAMR issued penalties related to 28 deals in total.

You may be interested in

Mobiles Tablets Laptops

The regulator said it was accelerating the disposal of existing anti-monopoly cases and will fully support the involved companies’ development. 

Also Read
In shock move, China's Oppo and OnePlus BANNED in Germany! Alibaba to Tencent, China Tech Giants Lost Their Swagger and May Never Get It Back Man Loses $2.3 Bn After SenseTime Slumps; counts Tencent Holdings in Its Clients List

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on ,Twitter, Facebook, , and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 11 Jul, 14:32 IST
Tags:
NEXT ARTICLE BEGINS

Copyright © HT Media Limited
All rights reserved.