SHANGHAI: Alibaba Group Holding Ltd has said that the latest antitrust penalty will not do substantial harm to its business, and has pledged to invest more in better servicing both merchants and customers.
“We don’t expect material negative impacts (against) this change of arrangement, ” said Daniel Zhang, chairman and CEO of Alibaba in a conference call to investors. “We don’t rely on exclusivity to retain our merchants.”
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!