Sentences with phrase «ant financial deal»
The MoneyGram - Ant Financial deal collapsed as tensions have grown over who will control the technologies of the future.
https://www.nytimes.com/ Not exact matches
In early January, Ant Financial, the electronics payment affiliate of China's Alibaba Group, and MoneyGram, a Texas - based money transfer company, announced that it had been forced to abandon a proposed deal after failing to win approval from the Committee on Foreign Investment in the United States (CFIUS), a congressional panel that reviews foreign purchases of American companies.
CNBC's Deirdre Bosa reports on the breakdown of the deal for Alibaba - backed Ant Financial to buy MoneyGram with U.S. officials citing national security concerns.
China's commerce ministry has warned that protectionist sentiment is rising in the U.S. following the collapse of the Ant Financial - Moneygram deal.
Forget about startups valued on paper at $ 1 billion or more — Jack Ma's Ant Financial Services Group payments company is looking to raise $ 9 billion in a deal that would value Ant at $ 150 billion, the Wall Street Journal reports.
They are pushing for an expansion of the Committee on Foreign Investment in the United States, or Cfius, the multiagency panel that reviews foreign deals for potential threats to national security and that rejected the MoneyGram - Ant Financial plan.
The deal between Ant Financial, the payments affiliate of Alibaba, and MoneyGram was seen as a test of the Trump administration's political and regulatory approach to China.
MoneyGram and Ant Financial, the Chinese electronic payments company, said Tuesday that they had canceled the deal after failing to win approval from a Washington panel that reviews foreign purchases of American companies.
Ant Financial had said the deal would give MoneyGram greater resources to toughen its efforts to prevent money laundering.
Critics of the deal also asked whether Ant Financial would be able to properly police transactions linked to money laundering or terrorism.
In January, opposition from the Trump administration persuaded Ant Financial, a Chinese firm, to pull out of a deal for MoneyGram.
Among the deals killed recently by the multi-agency Committee on Foreign Investment in the United States (CFIUS) were Ant Financial's plan to buy U.S. money transfer company MoneyGram International Inc (MGI.O), the purchase by China - backed Canyon Bridge Capital Partners LLC of a U.S. chip maker and plans by Zhongwang USA, backed by a Chinese aluminum tycoon, to buy a U.S. aluminum maker.
CFIUS is also considering other China deals, including the proposed purchase of MoneyGram International by Ant Financial, an affiliate of China's Alibaba Group.