SoftBank acquisition of ABB robot unit blocked by China regulator that opposed Meta’s Manus deal: FT
The deal is part of founder Masayoshi Son’s ambition to play a larger role in the AI build-out
China has blocked SoftBank Group's US$5.4 billion acquisition of ABB's robots unit, citing concerns about data transfer and the training of competing AI models, according to the Financial Times. The decision, which came after a foreign investment security review, has left SoftBank's shares down more than 7 percent in Tokyo. The Japanese-backed investment firm, founded by Masayoshi Son, had hoped to bolster its revenue and profit through the acquisition, which was anticipated to transform robotic concepts into actual businesses.
ABB, with over 7,000 employees and a large presence in China, supplies robotic arms and industrial machinery to manufacturers like BMW. However, the NDRC, China's powerful state planner, expressed concerns about the deal, which was similar to the regulator's previous rejection of Meta Platforms' US$2 billion acquisition of agentic AI startup Manus.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- China blocks SoftBank’s $5.4 billion ABB robot unit takeover japantimes.co.jp
- China blocks SoftBank’s $5.4b ABB robotics deal techinasia.com
