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US blocks MoneyGram sale to China's Ant Financial, cites security concerns

The $1.2 billion deal's collapse represents a blow for Jack Ma, the executive chairman of Chinese internet conglomerate Alibaba Group Holding Ltd, who owns Ant Financial

Reuters 

A US government panel rejected Ant Financial's acquisition of US money transfer company MoneyGram International Inc over national security concerns, the companies said on Tuesday, the most high-profile Chinese deal to be torpedoed under the administration of US President Donald Trump. The $1.2 billion deal's collapse represents a blow for Jack Ma, the executive chairman of Chinese internet conglomerate Alibaba Group Holding Ltd, who owns Ant Financial together with Alibaba executives. He was looking to expand Ant Financial's footprint amid fierce domestic competition from ...

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First Published: Wed, January 03 2018. 09:35 IST
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