MoneyGram International Inc (MGI.O)
23 Apr 2019
HONG KONG (Reuters Breakingviews) - Ant Financial has taken a big step into Europe amid a global backlash against Chinese technology. Jack Ma's $150 billion payments-to-wealth management group has snapped up WorldFirst in the UK. The deal, which comes a year after a failed bid for U.S.-based MoneyGram, revives Ant's overseas push. But heightened European anxiety about China suggests future acquisitions may not be so easy to close.
SHANGHAI Ant Financial has agreed to acquire UK-based currency exchange WorldFirst, a spokeswoman of the Chinese consumer finance giant said on Thursday, marking a successful western deal for the firm which saw a U.S. purchase blocked by regulators last year.
* Ant's bid for MoneyGram was rejected by U.S. regulators last yr
MoneyGram International Inc is exploring strategic alternatives, including a sale of the money transfer company, a year after a U.S. government panel nixed its $1.2 billion sale to China's Ant Financial, people familiar with the matter said on Friday.