China has launched an antitrust investigation into Alibaba Group and will summon the Ant Group affiliate to meet. The probe is part of a crackdown on monopolistic behaviour in the country’s booming internet industry, and the latest setback for Ma, China’s most famous entrepreneur. Last month, China suspended Ant’s planned $37 bn IPO, which was on the track to become the world’s largest, just two days before the official launch in Shanghai and Hong Kong.

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