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Alibaba group accepts penalty, vows to "ensure its compliance with determination"

Shortpedia

Content Team
Image Credit: Alibaba

Jack Ma's Alibaba Group accepted the penalty by the antitrust regulator and said that it "will ensure its compliance with determination". "We are pleased we can put this matter behind us," Alibaba executive vice-chairman Joe Tsai said while adding that the company wasn't expecting any further investigation from the antitrust regulator. The firm has been fined a record $2.75 for violating anti-monopoly laws.