China's antitrust regulator to fine Meituan about $1 bln
The Hindu
The State Administration of Market Regulation (SAMR) launched an antitrust probe into Meituan in April, focussing on a practice whereby a company forces vendors to use its platform exclusively.
China's antitrust regulator is preparing to impose a fine of about $1 billion on Meituan for allegedly abusing its dominant market position, the Wall Street Journal reported on Friday, citing people familiar with the matter. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) The penalty could be announced in the coming weeks, the newspaper said, adding that the food delivery giant would be required to revamp its operations.More Related News
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