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TechFlow News, April 27: The National Development and Reform Commission (NDRC) has, in accordance with laws and regulations, prohibited foreign investment in the acquisition of Manus and ordered the parties involved to rescind the transaction.
Earlier reports indicated that Meta acquired Butterfly Effect—the developer of Manus—for several billion dollars, and Xiao Hong, Butterfly Effect’s founder, was appointed Vice President at Meta.
The National Development and Reform Commission (NDRC) has, in accordance with laws and regulations, decided to prohibit foreign investment in the Manus acquisition project and ordered the parties concerned to rescind the acquisition transaction.
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