00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Meta Platforms has begun unwinding its $2 billion acquisition of Manus after Beijing ordered the
00:07deal reversed, according to CNBC. Meta has completed an operational split, directing
00:13employees to stop using Manus tools for internal projects and cutting off the Singapore-based
00:17startup's access to Meta's internal data systems. Chinese regulators issued the reversal order in
00:23April, and Beijing has since tightened tech export controls on cross-border transactions
00:28involving strategic sectors. Manus relocated its headquarters from China to Singapore
00:33before Meta announced the $2 billion acquisition in December, triggering a months-long regulatory
00:38probe. New outbound investment rules taking effect July 1st give Beijing formal legal authority
00:44to force the unwinding of completed overseas transactions and ban cross-border talent
00:49transfers in sensitive sectors without government approval. For all things money, visit Benzinga.com.
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