"Meta expressed confidence in the legality of the transaction and anticipated an appropriate resolution to the inquiry, despite the challenges posed by Chinese regulatory scrutiny."
Meta's acquisition of Manus, valued at around $2 billion, has been blocked by Chinese regulators due to foreign investment restrictions. The National Development and Reform Commission mandated that the parties withdraw from the transaction. Meta stated that the deal complied with applicable laws and expressed hope for a resolution. Manus, known for its autonomous AI agents, was founded in China and is now based in Singapore. The acquisition faced scrutiny, and Manus' co-founders were reportedly prevented from leaving China during the review process.
Read at www.bbc.com
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