Alibaba says U.S. SEC doesn't intend to take action after China regulator tiff
Get Alerts BABA Hot Sheet
Price: $102.60 -2.26%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.4%
Revenue Growth %: +8.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.4%
Revenue Growth %: +8.8%
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SHANGHAI/BEIJING (Reuters) - Alibaba Group Holding Ltd (NYSE: BABA) said on Tuesday the U.S. Securities and Exchange Commission does not intend to recommend "enforcement action" after disclosing a February inquiry into its interactions with a China regulator.
In January, China's State Administration for Industry and Commerce engaged in a public spat with Alibaba after publishing a report criticizing the e-commerce company for the prevalence of counterfeits on its sites. The report was later withdrawn.
(Reporting by John Ruwitch in Shanghai and Paul Carsten in Beijing; Editing by Susan Fenton)
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