China's antitrust regulator preparing to fine Meituan about $1b

China’s antitrust regulator is preparing to impose a fine of about $1 billion on Meituan for allegedly abusing its dominant market position, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The penalty could be announced in the coming weeks, the newspaper said, adding that the food delivery giant would be required to revamp its operations.

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