Tencent in talks to become Manus's largest shareholder via buyback
Business
Big moves in the tech world: Tencent is reportedly in talks to become Manus's largest shareholder, after Chinese regulators told Meta to step back from its $2 billion deal.
Now, Tencent and Manus'ss original investors (ZhenFund and HSG) are working on a buyback plan worth at least $2 billion to help Manus shift away from foreign ownership.
Buyback aims to reduce foreign ownership
This buyback is all about following China's stricter rules on foreign tech ownership.
If it goes through, Tencent would become Manus's biggest shareholder, a clear sign that they're doubling down on AI.
So far, everyone involved is keeping quiet about the talks, but all eyes are on how this could reshape China's AI scene.