End of bid: A merchant quick response code for Ant Financial’s Alipay is displayed at a fish stall inside a market in Hong Kong. Ant Financial has abandoned a plan to buy MoneyGram International after failing to win approval for the deal from a key government panel. — Bloomberg
SAN FRANCISCO: Ant Financial may have to re-tool its global ambitions after stiff US 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.
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