Alibaba under investigation amid speculation over Jack Ma s disappearance
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JanJanuary 2021 at 8:34am
Jack Ma hasn t been seen since October and his former company, Alibaba, is under investigation.
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Chinese regulators have launched an investigation into China s biggest e-commerce giant Alibaba, cofounded by Jack Ma, one of the country s richest men.
The State Market Supervision Administration issued a one-line statement on Christmas Eve that it had filed an antitrust investigation into Alibaba Group Holdings Ltd over their suspected monopolistic practices .
It also fined the company half a million yuan ($99,000) 10 days earlier for breaching anti-competition law.
China’s Alibaba Group Holding plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month amid scrutiny by China’s regulators.
Jack Ma, China's highest-profile entrepreneur has vanished from sight for more than two months, and is said to have been told by the authorities not to leave town..BABA
The Cairo-based health tech startup’s founder revealed plans for the company’s expansion, with “an aggressive plan to cover MENA and Africa in the foreseeable future.”
HEADLINES & GLOBAL NEWS
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Jan 06, 2021 08:06 PM EST
After speculations of Jack Ma being missing, the billionaire turned out to not be reported missing, according to a person familiar with the matter. Ma was said to have been lying low for the time being.
According to sources inside Alibaba, Ma is not missing or detained after calling for a Chinese economic reform during a speech in October 2020.
Jack Ma Not Missing But Lying Low
One of China s richest men and the founder of e-commerce company Alibaba, he was suspected missing due to the fact he has not made a public appearance in over two months.