April 29, 2014 / 12:05 PM / 3 years ago

MoneyGram slashes 2014 forecast as Wal-Mart looms

April 29 (Reuters) - MoneyGram International Inc, the world's second-largest money transfer company, slashed its forecast for 2014 on fears of competition from Wal-Mart Stores Inc.

Wal-Mart said this month that it will launch a money transfer service called "Walmart-2-Walmart".

MoneyGram said it now expected full-year constant currency revenue growth to be in the range of 1-3 percent from 8-10 percent and constant currency adjusted EBITDA growth of 0-2 percent, down from 5-7 percent. (Reporting by Tanya Agrawal in Bangalore; Editing by Sriraj Kalluvila)

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