China’s antitrust watchdog fined companies including Alibaba Group Holding Ltd. and Tencent Holdings Ltd. for not properly reporting past transactions, according to a statement Sunday from the State Administration for Market Regulation.
Tencent was fined a combined 6 million yuan ($896,245) over 12 acquisitions, while Alibaba’s subsidiaries were fined 2.5 million yuan for not reporting five deals, the statement showed. SAMR issued penalties related to 28 deals in total.
