China blocks SoftBank’s purchase of ABB’s robotics unit
A Chinese foreign-investment review body prohibited the deal in China, and ABB says it is still working with SoftBank.
SoftBank wanted to buy ABB’s robot business. China did not approve the deal inside its borders, and the two companies are still talking.
$5.4Bdeal value
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Why it matters
China is a big market for ABB robots, so the decision may shape the deal.
For most people
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The details
- SoftBank agreed to buy ABB’s robotics division for about $5.4 billion.
- China’s foreign-investment security review office prohibited the deal in China.
- The Financial Times reported the concern is robot data moving abroad to train AI.
- ABB confirmed the block and said it is in close dialogue with SoftBank.
- About 90% of machines built for Chinese customers come from ABB’s Shanghai factory.
WatchWe wait for what ABB and SoftBank say next.
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