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Jack Ma's Ant drops MoneyGram deal in face of U.S. opposition

Mimi Sabreena 4:03:00 PM Informasi

SAN FRANCISCO (Jan 3): Ant Financial Services Group abandoned its plan to merge with MoneyGram International Inc. after the companies failed to win approval from the Committee on Foreign Investment in the U.S., a national-security panel that has become more active in blocking Chinese investments in American companies.

MoneyGram shares plunged as much as 17 percent in extended trading to $11 on the news. The companies instead plan to work together on strategic initiatives in the remittance and digital-payments markets, they said in a joint statement on Tuesday.

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