Rebecca Davis editorChina’s market regulator has fined Tencent, Alibaba and other tech giants for failing to properly report 22 past merger deals, sending tech shares tumbling Thursday.The country’s State Administration for Market Regulation (SAMR) issued a fine of RMB500,000 ($77,000) for each late Wednesday — chump change for Big Tech behemoths but the max allowed by the local anti-trust laws for merger deal violations.The move comes amidst an unprecedented rise in government scrutiny on monopolistic practices in the tech sector whose consequences are reverberating through the entertainment industry.Alibaba was hit with accusations of irregularities for six deals, including one for its 2014 purchase of the Guangzhou F.C.
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