China Blocks SoftBank Acquisition of ABB Robot Unit, FT Says

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world China has blocked SoftBank Group Corp. ’s deal to acquire ABB Ltd. ’s robots unit, the Financial Times reported, citing unidentified people. The multibillion-dollar deal was opposed by China’s powerful state planner, the National Development and Reform Commission, the newspaper reported. The Japanese AI investor was recently informed of the decision and is now trying to determine whether it can seek approval again, according to the report.

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