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U.S. Blocks MoneyGram International Sale to China's Ant Financial Over National Security Concerns

Published 04/01/2018, 02:51 am
BABA
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Investing.com - The U.S. government has blocked another Chinese company's acquisition of an American firm.
Ant Financial's $1.2 billion purchase of MoneyGram International triggered national security concerns, according to the companies, which officially dropped plans for the deal.
MoneyGram shares fell sharply on the news.
The decision was made by the Committee on Foreign Investment in the United States.
The deal is high profile because Ant Financial is owner by Jack Ma and other executives of the Chinese Internet giant Alibaba (NYSE:BABA).
Ant is known for its Alipay online payment system.
The U.S. previously rejected a $1.3 billion Chinese takeover of the U.S, chip firm Lattice Semiconductor.

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