The $1.2 billion agreement takes a toll on both companies, especially Ant Financial's parent company, Alibaba Group Holdings Ltd (NYSE: BABA).
It was hoping to use MoneyGram as a springboard to the global market following the wide success of its core Alipay electronics payment service in its home China market. It was hoping to change that with the MoneyGram move, which originally saw it offer $880 million for the USA company. The Euronet proposal was seen as more favourable to U.S. lawmakers.
The decision by the Committee on Foreign Investment (CFIUS) comes as a blow to Alibaba boss Jack Ma's push into the world's biggest financial market.
The two companies will still look to cooperate in other ways despite the setback, Doug Feagin, president of Ant Financial International, said in a statement. MoneyGram, which has over 650 million users worldwide, competes with Western Union for cross-border money transfers to countries like Mexico.
Reports suggest the committee had cited security concerns over the takeover. That led the pair to decide they would never be able to satisfy the agency, leading them to drop their marriage. However, a spokesperson for Ant Financial said the company is "neither owned nor controlled by the Chinese government".
"Lots of China's companies underestimate compliance risk and the complexity of operating in highly regulated USA markets, particularly in the finance and fin tech sectors", said Jeffrey Sun, partner at law firm Orrick, based in Shanghai.
This particular deal comes after the USA has shot down a string of other purchases under Trump. In particular, he wants China to put more pressure on North Korea to end its nuclear program, and thus, some might be saying he's using this kind of veto to show China what might happen if it doesn't become more assertive on that front.
"China and the United States are about to ride a bumpy journey in trade in 2018 if the US government goes it own way, and retaliatory measures by China could be on the table", it added.
Ant Financial, which is controlled by Alibaba founder and billionaire Jack Ma, a year ago had announced its intention to acquire Dallas-based Moneygram International Inc., a move that would have helped solidify a financial presence in the USA for Ma and Alibaba.
He expressed satisfaction that three members of the team who sustained injuries were responding to treatment. They were meant to start the new NPFL season with a home game against Niger Tornadoes on Sunday.
After the halftime buzzer sounded, OSU senior Kendall Smith almost attempted a half-court shot, but Young swung to block it. Oklahoma State (10-3, 0-1) won both contests previous year , but Brad Underwood and Jawun Evans are gone.
Liquor stores have fought Sunday sales for years, predicting as many as a quarter of IN liquor stores could go out of business. Meeting during the summer, the commission recommended Sunday sales but not the expansion of cold beer sales.
Wilson should be considered risky . "If he is going to take a shot at an officer, he won't hesitate to shoot at anyone else". If anyone sees Wilson's vehicle, they should call 911 immediately, he said. "Let law enforcement handle this".
A report in Thozhilalar Koodam, a blog on labour issues in Tamil Nadu, outlined some of the details of the strike. The AIADMK-backed union, besides some others, had not participated in the protests, reported NDTV.
The Centers for Disease Control and Prevention said in a new report that the possibility of future cases can not be eliminated. A variety of agencies will take part in the hearing, including the Department of Veterans' Affairs and members of the CDC.
At least three jawans were injured after a rope slipped off ALH Dhruv helicopter during reharsal for Army Day. The Army has suspended slithering operations involving the chopper till a probe is completed, sources said.
The stock of Papa Murphy's Holdings, Inc. (NYSE: KMI ) for 48,700 shares. (NASDAQ:FRSH) on Friday, October 23 to "Sell" rating. E&G Advisors Lp increased its stake in At&T Inc (T) by 19.91% based on its latest 2017Q3 regulatory filing with the SEC.
Eight Capital reissued a "neutral" rating on shares of Agnico Eagle Mines in a research note on Thursday, November 16th. Quantitative Systematic Strategies Limited Liability Co owns 9,136 shares or 0.2% of their United States portfolio.
Warring parties are obliged by law to distinguish between civilians and lawful military targets, Zeid said. The Observatory said the blasts were the result of explosions in an arms depot east of Latakia.
Vietnam among countries with lowest travel security risks
Advisories are based on information from intelligence agencies, United States embassies and host countries' governments, she said. This stems from the recent update of how the US Department of State shares information with US travellers on January 10th.
Camila Cabello Breaks a Record with Her Debut Album Release
Camila , who left the group in December, 2016, was watching the performance at home and she was surprised by the obvious jab. Eventually, she was given an ultimatum: she can not make a solo album while, at the same, time performing with the group.
Iran's Unrest Pushes Oil to Highest Level in 2.5 Years
The Opec adherence to the global oil output cut increased by 3% in December 2017 to reach 128%, according to a Reuters survey. President Donald Trump , the American oil industry has seen a boost, with the new head of state vowing to cut regulations.
HUD awards $68 million to homeless programs in Chicago
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all . In Florida, there were nearly 32,200 people who experienced homelessness past year , a decline of 4 percent.
Facebook introduces massive changes to newsfeed
Organisations on Facebook may see the popularity of their posts decrease as a result, the firm acknowledged. He said, "Video and other public content have exploded on Facebook in the past couple of years".
Kevin Gates Has Been Released From Jail
The single was also Gates' first song to make the US Billboard Hot 100 and was also his first song to be certified Gold. The Baton Rouge rapper served nine months of a 30-month sentence for a weapons-related warrant in an IL state prison.