A deal would give Ant Financial the opportunity to enter the US and explore markets beyond China, bloomberg.com reports. MoneyGram helps consumers and businesses move money around the world through hundreds of thousands of physical outlets.
MoneyGram hass partnered with Walmart as the US retailer’s money-transfer agent, and also lets clients pay for everything from their mortgages to utility bills.
The Chinese company has begun making investments abroad, notably in India and Southeast Asia, to take its model of online finance and local services to emerging markets. In 2016, executives of Ant Financial visited Silicon Valley to size up potential investments and lay the groundwork for an IPO.
Important update: MoneyGram agrees to merge with Ant Financial.
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