ã€World Wide Web Reporter Li Zongze】 According to the US “Wall Street Journal†reported on January 3, due to the failure to obtain U.S. regulatory approval, the U.S. remittance company FXCM and China Financial Technology Corporation’s Ant Financial Services Group announced the cancellation of the merger plan on Tuesday. Another sign of the tight economic relations between China and the United States.
In a joint announcement, the two companies stated that despite adopting various ways to respond to the concerns of the U.S. Overseas Investment Committee, the two parties could not obtain approval from the committee. Surplus gold shares fell about 8% after the close of trading on Tuesday.
Ant Financial Services is the operator of Alipay. Its controller is Ma Yun, the founder of Alibaba Group. Ant Financial initially agreed to acquire MoneyGram in January 2017 for US$880 million, and increased its bid to approximately US$1.2 billion after Euronet Worldwide Inc. proactively submitted a bid of approximately US$955 million.
Douglas Feagin, president of Ant Financial Services, told the Wall Street Journal at the time of the first submission of the quotation from Ant Financial that the company was very pleased to enter the CFIUS approval process and had a good dialogue with the US regulatory authorities. Feagin said in an announcement on Tuesday that the company is still excited and encouraged by the global outlook for Ant Financial.
Dallas-based Super Money and Ant Financial said that the two companies will now focus on new strategic cooperation in the remittance and digital payment markets. The two parties also stated that Ant Financial Services had paid US$30 million to break up payments to Fast Money for termination of the transaction.
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