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Alibaba Fined $2.8 Billion By China in Monopolies Probe

China’s e-commerce and entertainment industry giant Alibaba Group has been hit with a fine of RMB18.23 billion ($2.8 billion) for alleged monopoly activities. The record punishment was announced Saturday morning local time by China’s State Administration for Market Regulation, which accused Alibaba of abusing its market dominance. The SAMR … Read entire story.

Source: Variety

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