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China's antitrust regulator preparing to fine Meituan about US$1 billion - WSJ

China's antitrust regulator preparing to fine Meituan about US$1 billion - WSJ

People walk past a Meituan logo at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 8, 2021. REUTERS/Yilei Sun

China's antitrust regulator is preparing to impose a fine of about US$1 billion on Meituan for allegedly abusing its dominant market position, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The penalty could be announced in the coming weeks, the newspaper said https://on.wsj.com/3ChY7pX, adding that the food delivery giant would be required to revamp its operations.

(Reporting by Bhargav Acharya in Bengaluru; Editing by Toby Chopra)

Source: Reuters

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