China readies big Tencent fine in crackdown: reportBloombergChina is preparing to slap a fine on Tencent Holdings Ltd (騰訊) as part of its antitrust crackdown on the nation’s Internet giants, Reuters said, citing people with knowledge of the matter. Tencent might face a fine of at least 10 billion yuan (US$1.6 billion), which is less than the US$2.8 billion levied upon fellow titan Alibaba Group Holding Ltd (阿里巴巴), the report said. Photo: ReutersThe campaign against China’s tech giants has already ensnared Alibaba and Meituan, and analysts have widely regarded Tencent as possibly being next in line. The investigation by China’s State Administration for Market Regulation focuses partly on Tencent Music Entertainment Group (騰訊音樂娛樂集團), the report said. China’s antitrust authorities had investigated Tencent’s dealings with the world’s three biggest record labels, but the probe was suspended, people familiar with the matter said in February.

Source: Taipei Times April 29, 2021 15:56 UTC