Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

MoneyGram merger is latest casualty of CFIUS, Chinese trade battle

Joe Mont | January 10, 2018

MoneyGram and Ant Financial Services Group have mutually agreed to terminate their planned merger due to the inability of the companies to obtain the required approval for the transaction from the Committee on Foreign Investment in the United States (CFIUS). The rejection they say, came despite “extensive efforts to address the Committee's concerns.”

MoneyGram is a global provider of money transfer services. Ant Financial Services Group, an affiliate of China-based Alibaba, “is focused on serving small and micro enterprises, as well as individuals. Ant Financial is dedicated to bringing the world more equal opportunities through building a technology-driven open ecosystem and working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial include Alipay, Ant Fortune, Zhima Credit, and MYbank.

“The geopolitical environment has changed considerably since we first announced the proposed transaction with Ant...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.