Aliexpress says €550 million EU tech fine is disproportionate

BRUSSELS, July 20 (Reuters) - Alibaba's 9988.HK AliExpress said on Monday that the record €550 million ($629 million) fine handed out by EU tech regulators for not doing enough to tackle illegal and counterfeit products on its platform was disproportionate.

"We disagree with today's decision and the disproportionate fine, which does not adequately reflect our established framework and the significant, proactive enhancements we have made," AliExpress said in an email.

"We are carefully reviewing the decision and considering all available options."