China opens antitrust probe into Trip.com, sending shares skidding
TL;DR
China’s State Administration for Market Regulation opened an antitrust probe into Trip.com for suspected abuse of its dominant market position; Trip.com said it would cooperate and that its operations are normal, but the stock plunged nearly 22% in Hong Kong, the worst performer on the Hang Seng; the case underscores regulatory risk in China’s online travel sector even as tourism rebounds.
- Trip.com shares plunge more than 20% as China opens antitrust probe into company CNBC
- Chinese Antitrust Probe Sends This Travel Stock Plummeting—What Investors Need to Know Yahoo Finance
- China probes largest online travel agency Trip.com over suspected monopoly Reuters
- China Regulator Discloses Probe Into Trip.com The Wall Street Journal
- China Says It’s Probing Trip.com Over Alleged Antitrust Conduct Bloomberg.com
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