( July 10, 2015, 06:08 GMT | Official Statement) -- MLex Summary: China's biggest e-commerce company Alibaba today said it’s "extremely shocked" by the arrest of Liu Chunning, vice president of Alibaba and head of its digital entertainment business, over allegations of bribery. Liu, a former executive at Tencent, was arrested with several others following reports by Tencent. Alibaba has rearranged work that Liu was in charge of to ensure that shareholders’ interest won’t be affected, the company said in a statement published on its official Sina Weibo account.The statement is attached....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.