China Blocks SoftBank's $5.4 Billion ABB Robotics Deal

China's state planner has blocked the previously agreed $5.4 billion acquisition of ABB's robotics division by SoftBank Group Corp., ABB said on November 5, 2026, Reuters reports. According to the Financial Times, which first reported the decision, the National Development and Reform Commission was concerned that robotics data could be transferred overseas and used to train AI models, including models from OpenAI, in which SoftBank is a major investor.

SoftBank had expected the deal to go through until it was told last week that the regulator prohibited it, the FT reported. SoftBank shares closed down 6.8%. ABB said the companies remain in close dialogue and continue to work on the transaction, while SoftBank declined to comment.

China accounts for about 30% of ABB's robotics business and is its largest market for the division. ABB Engineering in Shanghai houses the company's global robotics headquarters and serves as a research and development center and production base. It is the second major deal China has blocked this year, after Meta was ordered to unwind its acquisition of AI startup Manus.