China launches anti-monopoly investigation into Alibaba

Heaping further pressure on Alibaba, China has launched an anti-monopoly investigation into the e-commerce giant.

The state media further reported that the regulators will also hold “supervisory and guidance” talks with Alibaba’s gigantic financial services subsidiary Ant Group. The move comes just weeks after Beijing halted its record breaking IPO at the last minute.

The move exemplifies mounting pressure on China’s one of the most influential companies whose success made its founder Jack Ma China’s richest man and revolutionalised the e-commerce landscape.

In a statement, the State Administration for Market Regulation said, “Investigators are looking into Alibaba for “suspected monopolistic practices.”

Heaping further pressure on Alibaba, China has launched an anti-monopoly investigation into the e-commerce giant.

The state media further reported that the regulators will also hold “supervisory and guidance” talks with Alibaba’s gigantic financial services subsidiary Ant Group. The move comes just weeks after Beijing halted its record breaking IPO at the last minute.

The move exemplifies mounting pressure on China’s one of the most influential companies whose success made its founder Jack Ma China’s richest man and revolutionalised the e-commerce landscape.

In a statement, the State Administration for Market Regulation said, “Investigators are looking into Alibaba for “suspected monopolistic practices.”

Photo Credit : https://commons.wikimedia.org/wiki/File:Alixblog.png