Business · BBC Technology
Announced in late December, Meta said the deal - estimated to be worth around $2bn (£1.48bn) at the time -
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But reports on Monday said Beijing's National Development and Reform Commission had prohibited foreign investment in the deal, requiring "the parties involved to withdraw the acquisition transaction".
Key facts
- Announced in late December, Meta said the deal
- estimated to be worth around $2bn (£1.48bn) at the time
- would see Manus' agents used to boost to its own AI across its platforms
- The White House said on Friday it would work more closely with US AI firms to combat "industrial-scale campaigns" to steal advances in the technology
- saying new information showed "foreign
- Analysts described the deal at the time as a "natural fit" for Meta, with founder and chief executive Mark Zuckerberg spurring the firm's AI development
- A representative of China's US embassy in Washington DC took issue with "the unjustified suppression of Chinese companies by the US" in response to the memo
Summary
Facebook-owner Meta's acquisition of AI start-up Manus has been blocked by Chinese regulators. Announced in late December, Meta said the deal - estimated to be worth around $2bn (£1.48bn) at the time - would see Manus' agents used to boost to its own AI across its platforms. A Meta spokesperson told the BBC "the transaction complied fully with applicable law". "We anticipate an appropriate resolution to the inquiry," they added.