Alibaba Clears 3-Year Regulatory Antitrust Scrutiny, Stock Gains

Quick Summary:

Alibaba Group Holding Limited (NYSE:BABA) stock gained Friday premarket as it received a clean chit from the domestic regulator after over three years of investigative scrutiny since the end of 2020.“From the inspection and evaluation, Alibaba Group has completely stopped the monopoly behavior of ‘picking one from two,” SCMP cites the regulator.

Also Read: Alibaba’s Stock Connect Addition May Unlock $3.2B, Boost Global Markets: Report

Alibaba’s fintech affiliate Ant Group’s ambitious initial public offering also succumbed to regulatory scrutiny.

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Article Details

Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesChina

Topics: Tech Media BABA Briefs Top Stories Emerging Markets Government Benzinga Why it's moving Stories That Matter Regulations News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 12:41:25 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 432 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22307983

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