Meta to unwind $2B+ Manus buyout after China orders reversal
Meta is preparing to unwind its $2 billion-plus buyout of AI startup Manus after Chinese regulators blocked the deal over national security worries.
Authorities in China have told both companies to return Manus's assets and erase any data that changed hands, giving them just a few weeks to sort it out, or face possible penalties.
This move shows how seriously China is taking foreign investments in tech right now.
Manus investors to cooperate in probe
Some of Manus's earlier Asian backers, like Tencent, HSG, and ZhenFund, are planning to cooperate if Meta proceeds with unwinding the deal.
The push comes as part of an ongoing investigation by China's Ministry of Commerce that began days after Meta completed the acquisition.
Neither Meta nor Manus has commented yet on what happens next.