Alibaba’s financial affiliate Ant Financial Services Group defended its proposed takeover of money-transfer firm MoneyGram, saying none of the firm’s customer information would leave the U.S.
Ant Financial was responding to comments from the CEO of a rival bidder for MoneyGram, Kansas-based Euronet, suggesting the deal posed national security risks. Euronet CEO Michael Brown was quoted in the Wall Street Journal saying Ant’s takeover of MoneyGram would mean “You’ve got basically a Chinese company controlling a lot of personal financial information of Americans.”