Due to antitrust concerns, UC Brower was removed from multiple app stores
Chinese regulators seem to step up their game as they
removed Alibaba’s internet browser from multiple app stores.
According to a Financial Times report, the browser UC was
removed from app stores operated by Huawei, Xiaomi, and Tencent, after it was
criticized on television for misleading online advertising. According to the
statements made during a TV show, the browser allowed private hospitals to bid
for their names to come up when they were keyword searched, allegedly luring
patients to their platforms instead of those of public hospitals. Moreover,
this is not the first time when Alibaba encounters legal
issues. Regulators blocked the $37 billion Ant Group IPO, a company backed by
Jack Ma’s company.
The browser removal came when Beijing is tackling the power
and influence that the large technology firms have over various markets. Also,
China’s market regulator has completed a set of rules that will prohibit
companies from making exclusive deals with vendors to sell on their websites
rather than those of rivals.
Following the news, Alibaba stock price lost 1%.
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