Douglas Feagin, Ant's senior vice president. Photo by Bloomberg.
Asia

Ant Financial Defends MoneyGram Deal

Photo: Douglas Feagin, Ant's senior vice president. Photo by Bloomberg.

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.”


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