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Meta is said to be preparing to withdraw from the Manus acquisition deal.
Meta is reportedly preparing to withdraw from the Manus acquisition deal after a Chinese National Development and Reform Commission agency decided to ban foreign investment in this project.
The decision by the Chinese authorities was announced on April 28. Some former Asian investors in Manus, including Tencent, Sequoia China, and ZhenFund, are said to coordinate if Meta proceeds with withdrawal.
The day before, the Chinese National Development and Reform Commission announced that it had decided to ban foreign investment in the Manus project in accordance with legal regulations.
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