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China’s Alibaba does not expect any material impact from changes to its exclusivity arrangements with merchants, CEO Daniel Zhang said on Monday, after regulators fined the e-commerce giant a record $2.75 billion for abusing its market dominance.
Shares in Alibaba Group Holdings Ltd rose as much as 9 per cent in Hong Kong trade as a key source of uncertainty for the company was removed, and on relief the fine and steps ordered were not more onerous.
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