Alibaba promises cooperation with antitrust probe, Ant Group rectification plan as quarterly revenue rises 37 per cent

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Alibaba Group Holding reported a 37 per cent surge in revenue for the quarter ended December, boosted by its extended Singles’ Day campaign last year, as the e-commerce giant pursues closer cooperation with Chinese authorities in their investigation of its alleged monopolistic practices.“As a China retail marketplace connecting hundreds of millions of consumers and millions of merchants in transactions valued at trillions of yuan, we have a deep appreciation of the significant social and public…

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