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Report: China reviews Meta’s S$2.56B Manus deal over possible tech export control violations

Mary Alavanza
By Mary Alavanza

CHINA: Chinese officials are reviewing Meta’s over US$2 billion (S$2.56 billion) acquisition of Singapore-based artificial intelligence (AI) startup Manus for possible technology export control violations, a move that could give Beijing leverage over the deal, according to the Financial Times.

China’s commerce ministry reportedly began assessing whether the relocation of Manus’ staff and technology to Singapore, followed by its sale to Meta, required an export licence under Chinese law, according to two people familiar with the matter.

The review was said to be at a preliminary stage and may not lead to a formal investigation. Still, the report said a licence could allow Beijing to influence the transaction and, in an extreme case, push for it to be abandoned.

Meta and Manus have not yet commented on the matter.

Meta bought Manus last month, announcing on Dec 29 that the startup would join the tech giant to bring a leading agent to billions of people and unlock opportunities for businesses across its products. /TISG

Read also: Meta to cut 600 jobs in its AI unit amid ‘organisational bloat’ after hiring spree to scale operations

Featured image by Depositphotos

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