Navinfo said in a statement that it spent months after the deal was announced in January seeking approval from the U.S. Committee on Foreign Investment (CFIUS). But after meeting CFIUS resistance, the group had decided to pull its investment offer. It did not give details of why CFIUS opposed the investment. HERE, the world’s biggest provider of digital maps for the automotive industry, conducts business in the United States and is 15 percent owned by U.S. chipmaker Intel Corp.
Chinese investments in companies the U.S. government considers important to national security have come under increasing scrutiny from CFIUS.