• Latest
  • Trending
Alibaba boss Jack Ma sees $1.2bn Moneygram sale blocked by US

Alibaba boss Jack Ma sees $1.2bn Moneygram sale blocked by US

January 3, 2018
How Israel’s Likud Party played the long game toward annexation of the West Bank

How Israel’s Likud Party played the long game toward annexation of the West Bank

January 11, 2021
How the Capitol riot exposed our national security blind spots

How the Capitol riot exposed our national security blind spots

January 11, 2021
‘Good riddance,’ says China as Germany leaves UN Security Council

‘Good riddance,’ says China as Germany leaves UN Security Council

December 23, 2020
Indonesian police needs reforms, urgently & not just in Papua

Indonesian police needs reforms, urgently & not just in Papua

December 13, 2020
Chinese honey trap operation?

Chinese honey trap operation?

December 11, 2020
Bali’s villa dream or just another nightmare?

Bali’s villa dream or just another nightmare?

December 5, 2020
When the going gets tough, the tough gets Ramen!

When the going gets tough, the tough gets Ramen!

November 28, 2020
Giuliani attends Pennsylvania GOP meeting on alleged election issues

Giuliani attends Pennsylvania GOP meeting on alleged election issues

November 28, 2020
Biden: ‘They are back’ !

Biden: ‘They are back’ !

November 28, 2020
Zac Efron splits from Vanessa Valladares

Zac Efron splits from Vanessa Valladares

November 28, 2020
Trump campaign cuts Sidney Powell from legal team

Trump campaign cuts Sidney Powell from legal team

November 23, 2020
Against ‘Unity’

Against ‘Unity’

November 16, 2020
citizendaily
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
Monday, January 18, 2021
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
citizendaily
No Result
View All Result

Alibaba boss Jack Ma sees $1.2bn Moneygram sale blocked by US

January 3, 2018
in Economy, United States, World News
0
Home Economy
Post Views: 409

 

Money transfer firm MoneyGram says its planned sale to a company owned by Alibaba’s founder Jack Ma has been called off after regulators blocked the deal.

China-based Ant Financial Services Group announced a year ago it had agreed to pay $1.2bn for US-listed Moneygram International, which operates in over 200 countries including the UK. But it emerged overnight that a US government panel had rejected the takeover on national security grounds, making it the latest in a string of deals to collapse since President Donald Trump took office.

MoneyGram’s chief executive Alex Holmes said the companies failed to gain approval from the Committee on Foreign Investment in the United States despite efforts to respond to its concerns. They are said to have included the safety of data that could be used to identify US citizens.

The collapse of the deal represents a particular blow for Ma, who is the executive chairman of US-listed Chinese internet marketplace Alibaba. He owns Ant Financial together with other Alibaba executives. His aim through the acquisition of Moneygram was to expand Ant Financial’s global interests as it faces fierce domestic competition from rival Tencent Holdings’ WeChat payment platform.

Ma had promised Trump in a meeting a year ago that he would create 1 million US jobs under his plans. While job creation is high on Trump’s list of priorities, critics have accused his administration of following a damaging protectionist trade agenda.

Financial services has not traditionally been an area of concern for regulators as they focus more on cyber security. Other high profile deals to have been blocked include China-backed buyout fund Canyon Bridge Capital’s $1.3bn takeover of US chip maker Lattice Semiconductor Corp.

The planned acquisition of mobile marketing firm AppLovin by another China-based firm was also stopped.  MoneyGram shares fell 8.5% in after-hours trading when the committee’s decision was announced.  It later joined Ant Financial in saying the pair still planned to work together in exploring opportunities across Asia and the United States.  Such work would not require regulatory approval unless it resulted in a financial transaction.

 

 

RelatedPosts

No Content Available
Source :
NewsSky
Tags: Business NewsJack Ma Acquire MoneyGramUS Bars MoneyGram Sales
Previous Post

5 Things to Fear in a Strong Global Economy

Next Post

Kim Jong-un’s new suit, change of tone leads to speculation about North Korea’s motives

Related Posts

How Israel’s Likud Party played the long game toward annexation of the West Bank
Commentary

How Israel’s Likud Party played the long game toward annexation of the West Bank

January 11, 2021
How the Capitol riot exposed our national security blind spots
Bilateral

How the Capitol riot exposed our national security blind spots

January 11, 2021
‘Good riddance,’ says China as Germany leaves UN Security Council
Asia News

‘Good riddance,’ says China as Germany leaves UN Security Council

December 23, 2020
Indonesian police needs reforms, urgently & not just in Papua
ASEAN

Indonesian police needs reforms, urgently & not just in Papua

December 13, 2020
Chinese honey trap operation?
Asia News

Chinese honey trap operation?

December 11, 2020
Bali’s villa dream or just another nightmare?
ASEAN

Bali’s villa dream or just another nightmare?

December 5, 2020
Next Post
Kim Jong-un’s new suit, change of tone leads to speculation about North Korea’s motives

Kim Jong-un’s new suit, change of tone leads to speculation about North Korea’s motives

Translate

Subscription

Popular Post

How Israel’s Likud Party played the long game toward annexation of the West Bank
Commentary

How Israel’s Likud Party played the long game toward annexation of the West Bank

January 11, 2021
0

  Washington (11/1).    Israel’s leaders know that they will face strong criticism from powerful voices if they proceed with...

Read more

NGOs call for mass boycott of palm oil giant IOI

June 29, 2016
No peace for Greenpeace

No peace for Greenpeace

July 1, 2016

The Case Against Greenpeace

July 1, 2016
Children in ISIS Nusantara Media Outreach

Children in ISIS Nusantara Media Outreach

July 2, 2016
  • About Us
  • Creative Commons
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Contact Us

Topics

Follow Us

About Us

citizendaily.news is part of the citizen Daily Media Group LLC, which delivers daily news around the globe. ​

© 2012 The Citizen Daily

No Result
View All Result
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports

© 2012 The Citizen Daily