China blocks SoftBank's 5.4 billion ABB robot unit takeover

China blocks SoftBank's $5.4 billion ABB robot unit takeover SoftBank Group founder Masayoshi Son has listed a plan to buy ABB's robotics unit as a key part of his ambition to play a larger role in the artificial intelligence buildout. China has blocked the sale of ABB's robotics unit to SoftBank Group, dealing a blow to the Japanese investment firm's plans to expand into physical AI. A Chinese government agency blocked the $5.4 billion deal, ABB said in an emailed statement. The takeover was widely expected to bolster SoftBank's revenue and profit while it awaits a boost from OpenAI's public debut. SoftBank's shares were down around 7% in Tokyo on Thursday. A company spokesperson declined to comment.