US blocks MoneyGram sale to Chinese firm over security concerns

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Alibaba founder Jack Ma’s $1.2bn takeover plan is most high-profile Chinese deal to be rejected by Trump administration

Alibaba founder Jack Ma’s plan to acquire money transfer company MoneyGram has collapsed after a US government panel rejected it over national security concerns, the most high-profile Chinese deal to be torpedoed by Donald Trump’s administration.

The $1.2bn (£885m) deal’s failure represents a blow forMa, the executive chairman of the Chinese internet conglomerate.

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Source: china
Link : US blocks MoneyGram sale to Chinese firm over security concerns

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