News Snapshot:
New Delhi: China’s market regulator Saturday fined tech giants Alibaba, Baidu, Tencent and e-commerce platform JD.com Inc and Suning for violating the country’s anti-monopoly rules in 34 mergers and acquisitions (M&A) deals which they failed to declare illegal implementation of operating concentration, marking the latest move in the nation’s fight against monopoly, Global Times reported. The State Administration for Market Regulation (SAMR) slapped 500,000 yuan ($78,300) on each firm for the deals they were involved in, including Beijing Baidu Wangxun Technology Co and Nanjing Wangdian Technology Co’s joint purchase of Nanjing Xinfeng Network Technology Co, Alibaba’s acquisition of the equity...
