China blocks SoftBank's US$5.4 billion takeover of ABB's robotics business

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ABB said on 5 November that China's foreign-investment security review office prohibited SoftBank's acquisition of its robotics business, signed at an enterprise value of about US$5.375 billion. Reports cite concern about data leaving China. It is the second publicly known AI-related foreign deal Beijing has blocked this year, after Meta's Manus purchase of over US$2 billion. ABB says talks continue.