Alibaba’s conquest to own a piece of the global money transfer industry just suffered a huge blow after Euronet outbid its fintech affiliate business for the proposed acquisition of MoneyGram, a popular option for cross-border money transfers.
Ant Financial, the Alibaba-controlled unit that runs its Alipay mobile wallet among other services, bid $880 million for Moneygram back in January, but now Euronet is offering over $1 billion for the company.
Ant Financial declined to comment.
Euronet, which operates services like Epay, HiFix and XE, is offering to pay $15.20 per share for Nasdaq-listed MoneyGram, thus outbidding Ant Financial which proposed $13.25 for its deal. Euronet said that,
Keep reading this article on Feedburner-Tech Crunch
source http://www.omnipopmag.com/2017/03/14/euronet-outbids-alibabas-ant-financial-with-1-billion-offer-for-moneygram/
No comments:
Post a Comment