Skip to content
Subscriber Only

MoneyGram Deal Collapse May Force a Re-Think at Jack Ma’s Ant

  • Companies failed to win approval from national-security panel
  • Ant had offered $18 a share, valuing merger at $1.2 billion
Video player cover image
Bloomberg’ s Lulu Chen reports on Ant Financial Abandoning the deal with MoneyGram. (Source: Bloomberg)
Updated on

Ant Financial may have to re-tool its global ambitions after stiff U.S. opposition scuppered what would have been its largest overseas acquisition.

The Chinese financial services giant controlled by Alibaba co-founder Jack Ma abandoned a plan to buy MoneyGram International Inc. after failing to win approval for the deal from a key government panel. China’s largest online wealth management and payments service may now have to throttle back plans to expand in the world’s largest financial market as it begins preparations to go public in the next year or so.