According to Financial Times, citing two people familiar with the matter, regulators are preparing to lift travel restrictions on Manus founder and CEO Xiao Hong and co-founder Xiao Ji. Xiao Hong has informed employees of plans to return to Singapore shortly.
Xiao Hong and co-founder Ji Yichao were required to remain in China in March while regulators investigated whether Meta's acquisition of Manus violated rules. In April, regulators required Meta to reverse its roughly $2 billion acquisition. Manus confirmed this week it will resume independent operations. The restructuring plan, involving repurchases by Tencent, ZhenGeBasics, and HSG, is substantially complete and pending regulatory approval.
