Following in the footsteps of Alibaba, Tencent is about to receive a huge penalty from China for monopoly

According to the report, Tencent could face a minimum fine of $ 1.6 billion, lower than the $ 2.8 billion fine incurred by Alibaba. According to sources, Tencent was penalized for not reporting honestly on past acquisitions and investments for authorities to consider monopolistic practices and competition violations in some businesses, especially. in the realm of online music.

Currently, neither the State Regulatory Authority of China Market Regulations nor Tencent responded to a request for comment from Reuters. Alibaba and Meituan have been fined for monopoly. Analysts believe Tencent could be the next victim.