In a joint announcement, MoneyGram, the US remittance company, and China's ant Financial Services Group said the planned M & A deals between the two companies ended as a result of failing to get the approval of the U.S. regulator, the U.S. Overseas Investment Commission. Is considered as another sign of tension between China and the United States in economic relations.
Ant gold service is Alipay's operator, the control of Alibaba Group founder Jack Ma.
The 'Overseas Investment Commission' is an interdepartmental committee led by the U.S. Treasury that includes the U.S. security department, which examines foreign investments in the United States from a national security perspective. The commission believes the two companies failed to convince the U.S. government Trading will not pose a threat to U.S. national security.
Ant Financial said it planned to acquire the American Express for $ 1.2 billion in early 2017. Speed Gold CEO Alex Holmes said in a statement, "Compared to the one we had just announced a year ago The current geopolitical environment has changed dramatically.
Many members of both parties in the United States once questioned the deal and feared that the acquisition of Ant Financial might damage the U.S. financial infrastructure.Micropathists of the Co-chair of the Chinese Committee of the U.S. Congress and Administration once pointed out that ant gold Service and Chinese government have deep cooperation.
Prior to that, the Trump administration also halted the acquisition of the U.S. chip maker Lattice Semiconductor from a background Chinese private equity fund backed off by national security.