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China blocks SoftBank’s $5.4 billion ABB robotics deal: How Beijing is tightening its grip on strategic technologies
Reported by: Livemint ·
Summary
Livemint reported that China has blocked SoftBank's $5.4 billion acquisition of ABB's robotics business. The outlet said Beijing cited concerns over strategic technology and data security. Livemint also said the move follows China's decision to unwind Meta's $2 billion-plus deal, without giving further details of that deal. The report does not name the Chinese body that blocked the SoftBank-ABB transaction, or say when the decision was taken. In plain terms, $5.4 billion is the size of the deal, and a block means the purchase cannot go ahead as planned. ABB's robotics business makes industrial robots, machines used in factories. SoftBank is a Japanese investment group. The headline does not say how the block affects ABB's listed shares or any Indian company.
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Livemint · · Tone 0
China blocks SoftBank’s $5.4 billion ABB robotics deal: How Beijing is tightening its grip on strategic technologies
China has blocked SoftBank’s $5.4 billion acquisition of ABB’s robotics business, citing concerns over strategic technology and data security. The move follows Beijing’s decision to unwind Meta’s $2 billion-plus…
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- What happened here, in simple words? China blocks SoftBank’s $5.4 billion ABB robotics deal: How Beijing is tightening its grip on strategic technologies
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