Ant Financial Services Group, the financial technology affiliate of Alibaba Group Holding Ltd., has agreed to buy Dallas, Texas-based American money transfer company MoneyGram International Inc. for approximately US$880 million to step up its international expansion.
The deal with NASDAQ-listed MoneyGram will allow Ant Financial to provide various services to an additional network of 2.4 billion bank and mobile accounts worldwide, as the Chinese financial tech giant faces market share erosion at home from T...
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