China targets Alibaba with anti-monopoly investigation

Shares in e-commerce company plummet, with financial spinoff Ant Group also called in for ‘supervisory’ talks with authorities

Chinese regulators have launched an anti-monopoly investigation into Alibaba and called in for talks its online finance spinoff, Ant Group – increasing pressure on the e-commerce company founded by the Chinese tech entrepreneur Jack Ma.

On Thursday the state market supervision administration said it had filed an investigation into Alibaba Group Holdings Ltd over “suspected monopolistic practices”.

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