Ant Financial’s $1.2bn takeover of MoneyGram has drawn fresh criticism from US lawmakers who say the acquisition of the US cash-transfer group by an affiliate of China’s Alibaba and the Chinese government poses a national security threat.
In letters addressed to Steven Mnuchin, US Treasury Secretary, obtained by the Financial Times, Republican senators Pat Roberts and Jerry Moran said the Beijing-backed acquisition of MoneyGram could hurt America’s financial infrastructure.
Mounting opposition on the hill against Chinese acquisitions of US assets poses a dilemma for Jack Ma, the billionaire behind Alibaba, who has been positioning himself as a close friend of US President Donald Trump.
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