Chinese officials are reviewing Meta’s US$2 billion acquisition of artificial intelligence startup Manus for possible technology control violations, the Financial Times reported on Tuesday (Jan 6), citing two people familiar with the matter.
Reuters could not immediately verify the report. Meta and Manus did not immediately respond to requests for comment.
Chinese commerce ministry officials began assessing whether the relocation of Manus’ staff and technology to Singapore and the consequent sale to Meta required an export licence under Chinese law, the report said.
While the review is in its preliminary stages and may not lead to a formal investigation, the need for a licence could provide Beijing with an avenue to influence the transaction, including, in an extreme case, trying to force the parties to abandon the deal, the report added.
Meta acquired Manus last month, when a source familiar with the matter told Reuters that the deal values the Singapore-based firm at between US$2 billion and US$3 billion.
Source : https://www.channelnewsasia.com/business/china-review-meta-acquisition-manus-ai-singapore-5828021
