SoftBank says China prohibited its proposed ABB robotics acquisition

SoftBank Group said on Nov. 6 that China’s Office of the Working Mechanism for Foreign Investment Security Review notified it on Nov. 4 that the acquisition of ABB’s robotics business in China had been prohibited.

SoftBank said it remains in close dialogue with ABB and that both parties are working constructively on the transaction. Its announcement did not state a reason for the prohibition; the company said it would promptly disclose any decisions requiring disclosure.

← More reports