Meta has begun to reverse the terms of a massive deal worth $2 billion, as it comes under pressure from Chinese authorities. The company made the purchase in 2020 and has since struggled with regulatory scrutiny over the deal's potential implications for its users.
Beijing has been cracking down on tech companies that acquire or develop popular apps in China, citing national security concerns. As a result, Meta is facing increasing pressure to reverse some of the terms of the Manus acquisition, which was finalized just last year. Sources close to the company indicate that it is working with regulators to remove certain provisions from the deal.
In a statement, Meta said it would review and consider any recommendations from regulatory authorities before making further decisions. The move comes as China's government continues to exert pressure on tech companies around the world over issues such as intellectual property theft and human rights concerns. The reversal of the Manus acquisition is just the latest development in the ongoing saga surrounding Beijing's restrictions on foreign tech companies.