PCM Products & Contracts -

ANT FORCED TO ABANDON MONEYGRAM PURCHASE DUE TO REGULATORY PRESSURE

Ant Financial, the digital payments arm of Alibaba, has been forced to abandon a merger with MoneyGram, having failed to satisfy the US government that the deal posed no risk to US national security. Ant announced a deal to buy MoneyGram for about $880 million in cash almost a year ago, saying it would jump-start [...]

The post ANT FORCED TO ABANDON MONEYGRAM PURCHASE DUE TO REGULATORY PRESSURE appeared first on Payments Cards & Mobile.