Baba Stock – China’s market regulator investigates Alibaba-Minmetals JV
Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.
Alibaba declined to comment.
The investigation follows the record $2.75 billion antitrust fine imposed on Alibaba earlier this month.
(Reporting by Sophie Yu and Tony Munroe, editing by Louise Heavens)