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.
China’s Ant still thinks they can close MoneyGram deal
The company is keeping a stiff upper lip after being outbid by a US firm
