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China halts Manus acquisition deal, Meta responds
Golden Finance reports that on April 28th, the Chinese authorities announced yesterday to halt the acquisition of artificial intelligence startup Manus by American tech giant Meta, requiring the parties involved to revoke the acquisition deal.
The National Development and Reform Commission of China announced on its official website on April 27th that the Office of the Working Mechanism for Foreign Investment Security Review “legally and compliantly made a decision to prohibit the foreign investment in Manus, requiring the parties involved to revoke the acquisition transaction.”
Meta issued a statement on the same day stating that the deal complies with relevant applicable laws and expressing hope that the investigation issues raised by China can be properly resolved, but did not provide further details.
Meta announced at the end of December last year that it would acquire Manus for $2 billion, and China confirmed its involvement in the investigation in January this year. (Dongxin News Agency)