After receiving the largest fine in the history of Chinese companies … A sharp rise in the shares of “Alibaba” – Al-Manar TV website – Lebanon

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The fortune of Jack Ma, founder of Alibaba Group, rose sharply by $ 2.3 billion in the company’s shares, after receiving a record fine.

According to the Bloomberg Billionaires Index (BBI), Jack Ma’s net worth is now $ 52.1 billion, and he is ranked 25th on the general list of billionaires.

The previous day, Alibaba shares rose 10% after receiving a record fine for antitrust violations.

China’s State Bureau of Market Supervision and Regulation imposed a fine of 18.23 billion yuan (about $ 2.8 billion) on the company for antitrust violations, the largest of its kind in the country’s history.

According to the regulator, since 2015, Alibaba has misused its dominant market position and forced trading companies on their platform to obey the so-called principle (choose only one of two), that is, it prevented them from opening stores or participating in promotions on other competing platforms. .

It is clear that the investors were affected by the policy of the company, which in turn reported that it had “fully” cooperated with the administration in recent months and seriously studied the government’s policies and expectations regarding the economy of Internet platforms, and carried out an internal evaluation of it, and made improvements to it, to ensure the stable operation of the business.

The company confirmed that it fully accepts the punishment, will continue to carry out normal activities and is ready to continue active cooperation with the authorities.

Alibaba Group is the largest Internet company in China, working in the field of e-commerce, founded by businessman Jack Ma in 1999.

The group also owns several subsidiaries and online platforms: Alibaba Pictures, Alibaba.com, Auction, Taobao.com and Tmall.com.

Source: Sputnik







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