Xi tests China’s reach by blocking already-done Meta deal
China has blocked Meta's acquisition of a small Australian startup, highlighting Beijing's growing regulatory reach over international tech deals. The move underscores China's ability to influence cross-border mergers even after they are completed. The decision reflects broader concerns about data security and foreign investment control. This case sets a precedent for how China may assert power in global tech transactions.
- ▪China blocked Meta's acquisition of Australian startup Within after the deal had already closed.
- ▪The decision was made by China's anti-monopoly regulator citing competition concerns.
- ▪Within is the developer of the fitness app Supernatural for virtual reality headsets.
- ▪The block demonstrates China's expanding influence over global tech mergers and acquisitions.
- ▪Meta may be required to unwind the deal despite it being finalized months earlier.
Full article excerpt tap to expand
var article_info = {"cms_article_id":640673,"is_old_article":0} ; .jt-top-article-details .article-print-logo{display: none;} .jt-top-article-details .article-section{text-transform: uppercase;margin: 10px 0 5px;font-family: 'Pluto Sans Bold', 'Helvetica Neue', Helvetica, Arial, sans-serif;font-size: 11px; line-height: 14px;color:#c8102e;} .jt-top-article-details .article-section h2{margin: 0px;} .jt-top-article-details .article-section a{color:#C8102E;} .jt-top-article-details .separator{color:#333;font-family: 'Neue Bold';font-size: 11px;line-height: 14px;} .jt-top-article-details .premium-label{background-color:#898989;color:#FFF;font-size: 9px;line-height:24px;padding: 1px 9px;margin-left:5px;font-weight:200;font-family:'Pluto Sans Regular', 'Helvetica Neue', Helvetica, Arial, sans-serif!important} .jt-top-article-details h1.title-article{margin-top: 15px;margin-bottom: 2px;font-family: Utopia Std Semi Bold, Georgia, serif;font-size: 42px; line-height: 46px;color:#151515;} .jt-top-article-details h3.subtitle-article{ color: #666;font-family: Roboto, Light;font-size: 18px;font-weight: 300;line-height: 24px;} .jt-top-article-details h3.article-kicker{margin-top: 10px;font-family: 'Roboto'; font-size: 14px; line-height: 18px;color:#666666;margin-bottom: 0px;font-weight: 400;} @media(max-width: 768px){ .jt-top-article-details h1.title-article{font-size: 30px;line-height: 32px;margin-top: 2px;} .jt-top-article-details h3.subtitle-article{font-size: 16px;line-height: 22px;} .jt-top-article-details .col-md-8{padding-left: 15px;} .jt-top-article-details .article-section{margin-bottom: 15px;} } BUSINESS / Tech Xi tests China’s reach by blocking already-done Meta deal .jt-article-details { margin-top: 30px; } .jt-article-details .podcast-banner { max-width: 100%; } .jt-article-details .article-image-gallery { margin-bottom: 20px; } .jt-article-details .article-image-gallery a[data-fancybox] { display: block; } .jt-article-details .article-image-gallery .layout-ratio { height: auto; padding-bottom: 0; } .jt-article-details .article-image-gallery .layout-ratio img { position: static; width: 100%; height: auto; } .jt-article-details .article-info { width: 600px; margin: 0 auto; } .jt-article-details .article-body div, .jt-article-details iframe { max-width: 100%; } .jt-article-details .article-body iframe:not(.archive-iframe) { width: 100%; aspect-ratio: 16/9; } .jt-article-details .jt_content_ad { float: none; clear: both; margin: 0 auto; text-align: center; } .jt_content_ad div:before { content: "ADVERTISEMENT"; display: block; color: grey; font-size: 0.6875rem; font-family: "Pluto Sans Regular", "Helvetica Neue", Helvetica, Arial, sans-serif; text-align: center; border-bottom: solid 0.5px #ccc; margin-bottom: 10px; } .jt_content_ad div:after { content: ""; color: grey; display: block; border-bottom: solid 0.5px #ccc; padding-bottom: 10px; } .jt-article-details .article-body { font-family: Utopia Std, Georgia, "Hiragino Mincho Pro", "Hiragino Mincho", serif; font-weight: 200; font-size: 20px; line-height: 32px; color: #333; } .jt-article-details .article-body span.dateline { font-size: 14px; line-height: 14px; font-weight: 400; color: #333; text-transform: uppercase; font-family: "Pluto Sans Bold", "Helvetica Neue", Helvetica, Arial, sans-serif; } .jt-article-details .article-body p { margin-bottom: 18px; } .jt-article-details.old-article .article-body br { display: block; content: ""; height: 1px; width: 100%; margin-bottom: 18px; }…
This excerpt is published under fair use for community discussion. Read the full article at Japan Times.
Discussion
0 commentsMore from Japan Times
