Chinese authorities plan to announce a fine of at least $1.1B on Alibaba affiliate Ant Group as soon as Friday, ending the company’s years-long regulatory overhaul, Reuters’ Julie Zhu and Jane Xu report. According to sources with direct knowledge of the matter, the People’s Bank of China is expected to disclose the fine, which would be one of the largest ever fines for an internet company in the country, in the coming days.
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