China’s NDRC Said to Block SoftBank’s ABB Robotics Deal; Foreign Ministry Declines Comment

Cointime update: China’s Foreign Ministry declined to confirm reports that the National Development and Reform Commission will block SoftBank Group’s acquisition of ABB’s robotics business. Spokesperson Guo Jiakun, asked at a regular press briefing about the reported rejection, said the question should be directed to the competent Chinese authorities. SoftBank was reportedly recently informed that the NDRC would obstruct the Swiss-Swedish joint venture’s robotics unit sale.