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CN NDRC Bans Foreign Acquisition of Manus Project, Orders Transaction Revocation
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China's National Development and Reform Commission (NDRC) announced that the Office of the Working Mechanism for Foreign Investment Security Review had made a decision to prohibit foreign investment in the acquisition of the Manus project in accordance with relevant laws and regulations, and had required the parties involved to revoke the transaction. At the end of December last year, Meta, the parent company of Facebook, announced the acquisition of Manus, a Chinese AI startup, in a deal reportedly involving more than USD2 billion. Auto-translated by AI AASTOCKS Financial News |
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