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Meta Cuts Manus Free From China, As Regional Lender Gets Premium Bailout - Meta Platforms (NASDAQ:META)
Benzinga· 2026-01-07 12:25
Group 1: Meta's Acquisition of Manus - Meta's acquisition of AI startup Manus is valued between $2 billion and $3 billion, explicitly excluding Manus' Chinese operations [4][5] - Manus, originally based in both Beijing and Singapore, is now officially headquartered only in Singapore, indicating a trend of Chinese tech companies relocating to avoid regulatory challenges [5][7] - This move reflects a broader trend of Chinese entrepreneurs seeking to establish businesses outside of Mainland China to escape heavy regulation, similar to the crypto industry's exodus [7][8] Group 2: Weihai Bank Bailout - Weihai Bank received a 1 billion yuan ($140 million) investment from a local government vehicle, purchasing shares at a premium rather than the typical discount [10][11] - The premium purchase is seen as a strategy to bolster confidence in the bank and prevent panic among depositors, highlighting the influence of government policy on state-owned enterprises [11][13] - The local government's intervention aims to improve the bank's Tier 1 capital ratio while addressing the challenges posed by non-performing loans and the post-Covid economic environment [12][13]