News

Chinese Firm Ant Financial Drops MoneyGram International Takeover Plan

Acquisition of MoneyGram

Donald Trump’s government has rejected the takeover bid of MoneyGram by Ant Financial. The foreign investment regulating agencies presently functioning in the USA are stern and vigilant on the flow of foreign investments into the country. The USA has been adopting a strict approach on its business dealings with China. Regulators have been showing stiff opposition to this takeover deal.

Right from last year, America’s politicians and leaders are emphasizing the administration to closely monitor the Chinese investments, especially in the technology industry.

The governmental actions have left many companies in the country in a state of frustration and mental unease. Many more business deals are also getting blocked. Chinese companies have expressed dismay at the foreign investment-related policy decisions of the present US government. Most specifically, Alibaba, the organization that co-owns Ant Financial is being left shell-shocked due to spoilage of its overseas expansion ambitions.

Ant Financial Drops Moneygram International Takeover Plan:

China’s Ant Financial dropped its takeover deal plan of MoneyGram International, owing to vehement opposition and disapproval from a US governmental panel. The decision comes in the wake of an assurance given by Alibaba’s co-founder, Jack Ma to Donald Trump last year that at least a million jobs will be created in the USA.

The after effect of this deal is that a dramatic change has taken place in the geopolitical scenario. Had the deal with Ant Financial materialized, MoneyGram would have expanded its agent locations to a minimal of 200 nations and added billions of users.

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