Tencent in talks to become Singapore

[SINGAPORE] Chinese gaming and internet company Tencent is in talks to become Manus’ largest shareholder, two people with knowledge of the matter said on Friday (Jul 10).

This comes as investors seek alternatives after Beijing ordered Meta to unwind its US$2 billion acquisition of the artificial intelligence startup, the people said.

The Financial Times first reported Tencent’s talks earlier in the day.

Tencent, together with Manus’ original investors, including ZhenFund and HSG, are planning to buy the company back from Meta for no less than US$2 billion, said one of the sources and a third person briefed on the matter.

Tencent, Manus, Meta and the two investment firms did not immediately respond to Reuters’ requests for comment. REUTERS