BEIJING: Tencent Holdings Ltd is in discussions to become the largest external shareholder in Manus, in a deal to buy back the agentic artificial intelligence (AI) pioneer after Chinese regulators struck down Meta Platforms Inc’s blockbuster acquisition.
China’s most valuable company is leading talks aimed at securing a deal to unwind Meta’s purchase at the same valuation of US$2bil, according to people familiar with the matter.
Other investors involved in the talks included venture capital outfit ZhenFund and HSG, the people further said, asking not to be identified discussing private information.
Both companies Tencent and Meta did not respond to requests for comment on the matter.
The WeChat operator is looking to make up ground in the AI race, redirecting spending to generative AI and backing high-profile startups from DeepSeek to Moonshot AI.
Manus presents an opportunity for Tencent to gain access to valuable agentic technology at a time when it’s ramping up its own AI offerings.
In the meantime, Tencent recently launched a prototype agent that could eventually run errands for a billion- plus users across its ecosystem that spans millions of applications.
Meta’s landmark acquisition of Manus at the end of last year quickly drew criticism for handing over key technology to a geopolitical rival, triggering a months-long probe.
In April, Chinese regulators decided to block the deal, triggering the intricate process of dismantling a completed transaction.
Once celebrated as a blueprint for Chinese AI startups keen to set foot on a global stage, Manus has undergone an operational split from Meta, with data sharing between the two companies halted, Bloomberg News reported in June.
Chinese regulators have grown wary of key technologies like AI hollowing out, leaving critical sectors exposed to foreign takeovers.
In recent months, Beijing has also moved to bar major tech firms including ByteDance Ltd and Moonshot AI from taking American capital without approval, and cracked down on offshore Chinese companies seeking to list in Hong Kong.
The Financial Times earlier reported Tencent’s discussions. — Bloomberg
