MoneyGram rejects national security claims, despite holding talks with Euronet
The US money transfer firm has not backed out of deal with Chinese Ant Financial
Speaking with the Financial Times, MoneyGram chief executive Alex Holmes said Euronet’s claims that Chinese buyer Ant Financial posed a national security risk is “simply untrue.”
The Chinese firm, an Alibaba subsidiary, first signed a US$880 million deal to acquire the US money transfer company, but has since been outbid by Kansas-based Euronet with a US$940 million offer.
MoneyGram did not back out of the original deal, despite the higher offer, although they have agreed to hold talks with the rival bidder.
Euronet initiated a lobbying campaign in Washington following their bid, arguing that the Chinese firm’s takeover poses a national security risk.