(July 10): Tencent Holdings Ltd is in discussions to become the largest shareholder in Manus, the Chinese agentic AI pioneer whose acquisition by Meta Platforms Inc was ordered by Beijing to be unwound, the Financial Times reported.
Most of the existing investors in Manus, which include Tencent along with ZhenFund and HSG, the investment firm formerly known as Sequoia Capital China, are in talks to back a deal that would unwind Meta’s purchase at the same valuation of US$2 billion, the FT reported, citing two people familiar with the discussions.
Once celebrated as a blueprint for Chinese AI startups keen to set foot on a global stage, Meta’s landmark acquisition of Manus quickly drew criticism for handing over key technology to a geopolitical rival, triggering a months-long probe involving tech export controls. Chinese regulators in April demanded the deal be unwound, triggering the intricate process of dismantling a completed transaction.
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