Tencent, Didi Chuxing, other internet firms slapped with fine by antitrust authorities for failing to disclose deals

//Tencent, Didi Chuxing, other internet firms slapped with fine by antitrust authorities for failing to disclose deals

Tencent, Didi Chuxing, other internet firms slapped with fine by antitrust authorities for failing to disclose deals

Tencent Holdings, Didi Chuxing and eight other major internet companies have each been slapped with a fine by China’s antitrust regulator for failing to report the acquisition of smaller competitors and starting new joint ventures, in a move that intensifies Beijing’s crackdown on Big Tech.The State Administration for Market Regulation (SAMR) imposed a fine of 500,000 yuan (US$77,243) on each of the 10 firms for breaching China’s anti-monopoly law, according to a statement from the regulator on…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2021-04-30T11:34:28+00:00 April 30th, 2021|Technology|Comments Off on Tencent, Didi Chuxing, other internet firms slapped with fine by antitrust authorities for failing to disclose deals