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China%27s+Alibaba+to+buy+US-based+MoneyGram
Friday, 27 January 2017 - 11:52
China's Alibaba to buy US-based MoneyGram
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Ant Financial, the digital payments arm of e-commerce giant Alibaba, is buying US-based MoneyGram for $880m.

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.

 

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