US govt blocks Alibaba's $1.2 billion deal to buy MoneyGram
The US government has blocked the $1.2 billion sale of global payment service MoneyGram to Alibaba's Ant Financial over national security concerns. It came after the Committee on Foreign Investment in the US reportedly rejected the companies' proposals to mitigate security concerns over the citizens. Ant paid $30 million to MoneyGram for terminating the acquisition, as per the agreement terms.