Reuters: Alibaba (NYSE: BABA) and Tencent were fined by China’s market regulator for failing to disclose transactions in accordance with anti-monopoly guidelines.
SAMR released a list of 28 illegal deals. Five Alibaba units are engaged, including a 2021 investment in Youku Tudou.
SAMR listed 12 Tencent deals.
The firms were unavailable for comment.
Late 2020 saw a crackdown on monopolistic behaviour in China’s tech sector.
The highest fine under anti-monopoly laws is 500,000 yuan ($74,688).
$1 = 6.945 yuan
