Tencent Holdings is reported to be in discussions to become the largest shareholder in Manus, a Chinese “agentic” AI startup. Multiple outlets, citing sources and reporting by the Financial Times, say Tencent is among parties negotiating to take a leading equity position as Manus’ original investors look for alternatives following Beijing’s decision to block and unwind Meta Platforms’ acquisition.
Meta had agreed to buy Manus for more than $2 billion in late 2023, but Chinese regulators ordered Meta to unwind the deal on national-security grounds, according to the reports. The funding arrangements under discussion involve a buyback of Manus by its earlier investors, including ZhenFund and HSG, with reports stating the buyback price is at least $2 billion.
The outlets describe Tencent’s potential role as an investor in the post-unwinding structure, with negotiations focused on its stake and ownership level. The sources cited do not provide details on the final terms, timing, or whether the talks will lead to a definitive agreement.
