 "Jack Ma")
Chinese billionaire Jack Ma’s latest US expansion plan is facing rising political obstacles.
On Friday, two members of the House of Representatives urged the Committee on Foreign Investment in the US to conduct a “full and thorough” investigation of Ant Financial’s proposed acquisition of MoneyGram International, a money-transfer service.
“The proposal merits careful evaluation as it would provide Chinese access to the US financial infrastructure, a move that would pose significant national security risks if completed,” Congressman Kevin Yoder and Congresswoman Eddie Bernice Johnson wrote in a letter to Treasury Secretary Steven Mnuchin.
Formerly a financial-services affiliate
On Friday, two members of the House of Representatives urged the Committee on Foreign Investment in the US to conduct a “full and thorough” investigation of Ant Financial’s proposed acquisition of MoneyGram International, a money-transfer service.
“The proposal merits careful evaluation as it would provide Chinese access to the US financial infrastructure, a move that would pose significant national security risks if completed,” Congressman Kevin Yoder and Congresswoman Eddie Bernice Johnson wrote in a letter to Treasury Secretary Steven Mnuchin.
Formerly a financial-services affiliate
