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China's Alibaba buy MoneyGram at $800m

  • Author:Nicole Zhang
  • Source:BBC news
  • Release on:2017-01-28
  Ant Financial, the digital payments arm of e-commerce giant Alibaba, is buying US-based MoneyGram for $880m (£700m).

  MoneyGram has about 350,000 outlets in nearly 200 countries. Ant Financial has more than 630 million users.
The takeover by the Chinese group will need regulatory approval from the US Committee on Foreign Investment.
The inter-agency committee reviews foreign acquisitions of domestic American assets on grounds of national security.

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