China to Lift Manus Founders' Travel Ban as $2 Billion Meta Deal Unwinds
Updated
Updated · Financial Times · Aug 15
China to Lift Manus Founders' Travel Ban as $2 Billion Meta Deal Unwinds
3 articles · Updated · Financial Times · Aug 15
Summary
Beijing is preparing to lift travel restrictions on Manus founders, imposed since March, after the AI start-up moved to unwind its blocked sale to Meta.
Manus told staff it would return to operating independently, a step it said was needed to meet regulatory requirements after China investigated possible breaches of investment rules.
Final approval still rests with regulators led by the NDRC, but officials have told Manus its operations should not be affected once the separation is completed in a compliant form.
A buyback at roughly the same $2 billion valuation would return control to former investors and management, with Tencent set to become the largest shareholder while keeping only a minority stake.
The case underscores China's tighter oversight of cross-border AI deals, even as Manus plans a 2.0 launch and expects annual recurring revenue to stay above $300 million after the split.