A MoneyGram advertisement in Shanghai. Photo: ImagineChina

U.S. judge blocks Trump administration’s ban on new TikTok downloads

Last week’s news that a US firm has outbid Ant Financial for the acquisition of MoneyGram has not fazed executives of the Alibaba subsidiary. Ant’s head of international strategy, Douglas Feagin, said in a phone interview that the firm is looking forward to completing the deal, reported Reuters. This followed the announcement last Tuesday that US electronic payments firm Euronet Worldwide Inc launched a US$1 billion offer, compared to Ant’s initial offer of US$880 billion. The Chinese company’s confidence on the deal should be taken with a grain of salt as the US Committee on Foreign Investment’s scrutiny of Chinese investments looks to intensify this year.

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