CHINA-US: CHINESE ACQUISITION OF MONEYGRAM FAILS
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Reuters reported on January 3, 2018 that Chinese company Ant Financial’s plan to acquire U.S. money transfer company MoneyGram was denied by the Committee on Foreign Investment in the United States (CFIUS). This is the most high-profile Chinese deal to be torpedoed under the administration of U.S. President Donald Trump.The US$ 1.2 billion deal’s failure represents a blow for Jack Ma, the Executive Chairman of Chinese internet conglomerate Alibaba Group Holding Ltd.
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