Upcoming events

Follow Us

Menu
Log in

 E-Merchants Trade Council, Inc.

Simplifying Global E-commerce 

Log in

Alipay: Alibaba stock tumbles after report says Beijing wants to break up popular payment app

Mon, September 13, 2021 12:45 PM | Mariane Rowden (Administrator)

CNN - 

Shares in Alibaba slumped again on Monday after the Financial Times reported that Beijing is planning to break up Alipay, the hugely popular payment app owned by its financial affiliate, Ant Group.

But that wasn't the only piece of news that led to the stock's decline. Investors are also concerned that Beijing is intensifying its ongoing crackdown on big tech, after regulators ordered internet firms — including Alibaba and Tencent — to stop blocking rivals' links on their platforms.

See full article at: https://www.msn.com/en-us/money/other/alipay-alibaba-stock-tumbles-after-report-says-beijing-wants-to-break-up-popular-payment-app/ar-AAOnQix?ocid=msedgdhp&pc=U531

Powered by Wild Apricot Membership Software