China to investigate Meta’s purchase of Manus in its third largest acquisition and why it may be a problem

The Chinese government has said that it will open a formal investigation into Meta’s acquisition of AI startup Manus, a deal valued at over $2 billion – third largest in the Facebook-parent company’s history. According to a report, Beijing will scrutinise the deal to ensure compliance with regulations governing overseas investment and the export of strategic technologies.

The Ministry of Commerce (MOFCOM) said in a statement that it will assess whether the transaction violates the country’s strict export control and technology transfer laws.