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JD.com wins $140M in antimonopoly case against Alibaba By Investing.com

JD.com wins 0M in antimonopoly case against Alibaba  By Investing.com

© Reuters. JD.com (JD) wins $140 million in anti-monopoly case against Alibaba (BABA)

JD.com (NASDAQ:) was awarded 1 billion yuan (~$140 million) in damages on Friday, after the company won an anti-monopoly lawsuit against Ali Baba (NYSE:), according to JD’s WeChat statement.

Alibaba, Zhejiang Tmall Network Co and Zhejiang Tmall Technology Co “abused their dominant market position and engaged in monopolistic practices known as “choosing one from two,” the Beijing High People’s Court said, “causing serious damage to JD.com.”

The decision, described by JD as “a historic moment in respecting market fairness and the order of competition through the rule of law”, marks at least a temporary resolution of a long legal battle between two e-commerce giants on a “choose one over the other” practice. of two”, forcing brands and merchants to sell exclusively on a single platform.

An Alibaba spokesperson said the company was aware of the ruling and would respect the court’s ruling.

This dispute was one of several high-profile cases accusing Alibaba of monopolistic practices: in 2021, the company was fined $2.75 billion by Chinese authorities, who found that Alibaba had abused its dominant position in the market.

JD shares gain modestly following the announcement.

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