Bloomberg
China fines, tense unit under anti-monopoly laws
. The state administration for market regulation said Monday that Duo International Holdings Ltd is reviewing its merger with Hua Inc., which could create a Chinese sports streaming leader similar to Amazon’s Twitch. In 2017, the department store chain fined Alibaba 500,000 yuan (, 500 76,500) for failing to get approval before raising its stake in chain chain retail group group to 73.79%, while China Literature Ltd, an e-book business rotated by Tencent, was audited on a previous contract. The fines come after regulators announced last month their intention to explore new anti-monopoly rules for China’s largest technology companies. In November, Beijing establishes a framework for curbing anti-competitive behavior, including collaborating on the sharing of vital consumer data, subsidizing low-cost alliances to eliminate small competitors and rivals. Shares of Alibaba and Tencent extended losses and closed more than 2.5% .Read more: China puts more billionaires in Climatedown announcement on Big Tech “The aforementioned companies have great influence in the industry, make numerous investments and acquisitions, have specialized legal committees, and are well versed in the rules governing M&A. Failure to declare seriously has a relatively severe impact.” Beijing’s top study raises fears of widespread repression of the country’s largest companies Shares of No. 3 Internet company Meitwan fell 3.8% on Monday, after People’s Daily wrote an editorial, downplaying industry interest in growing traffic and volume in areas such as grocery distribution, at the expense of genuine scientific discoveries. Its highly affordable using a number of contracts to decorate some of the most promising startups and create new business models that combine e-commerce with brick As part of the effort, Alibaba led a $ 2.6 billion buyout. And motor retail China Literature in 2018 agreed to buy new classic media for 15.5 billion yuan to expand on filmed content. The companies failed to approve the contracts, which were not considered anti-competitive, the regulator said on Monday. China Literature said in a statement that it was actively working with regulators to comply, while Alibaba representatives did not immediately respond to requests for comment Read more: Jack Ma Bets 6 2.6 billion he can revive China retail sector Bloomberg Investigation says: Alibaba’s capability through M & A to its domestic e-commerce environment To strengthen the system, the anti-monopoly study is likely to be significantly weakened by a fine of 500,000 yuan, which was underlined by the state administration for market regulation on Monday, for failing to get approval to acquire indie retail in 2014 -18. While this amount is unimportant for Alibaba, the re-use of the new anti-competition rules announced in November could be a serious warning to the tax in the future. – Way-Cern Ling and Tiffany Tom, analysts Click here to read Research Hua in October Tencent, which currently holds shares in both companies and is expected to hold about 68% of the combined business’s voting shares. According to the latest figures from IResearch, the WeChat operator has gained control over the leader in the live-stream gaming market, which is estimated to generate 30 billion yuan in revenue this year. Scott Yu, a Beijing-based Zhang Lun law firm’s trust, said in a statement issued on Monday that SF Holding Co., a subsidiary of SF Holding Co., was acquiring a competitor, adding that “despite its modest size, the fine announced today is of symbolic significance.” “This announcement, along with the draft hopeless guidance released in November, signals that Beijing will pay close attention to the monopoly position of Chinese Internet companies.” (In the seventh column adds the Chinese literary concept, the eighth volume column of the live streaming game market) For additional articles like this, please visit us at bloomberg.com and subscribe now to progress with the most reliable business news source. © 2020 Bloomberg LP