March 14 Ant Financial Services Group, the
financial services affiliate of China's Alibaba Group Holding
Ltd, said on Tuesday it remained committed to the
consummation of its merger with U.S. money-transfer company
MoneyGram International Inc, after Euronet Worldwide Inc
trumped its offer.
U.S. electronic payments company Euronet Worldwide launched
a $1 billion bid for MoneyGram on Tuesday, saying that its
all-American deal would face less regulatory scrutiny than a
lower bid by Ant Financial.
In January, Ant Financial agreed to buy Dallas-based
MoneyGram for $13.25 per share, or about $880 million.
Ant Financial said on Tuesday that it continues to
anticipate closing of the deal in the second half of
"We are excited about this combination and remain committed
to keeping MoneyGram, its management team and headquarters in
Texas as we invest more in the business and in American jobs in
the years ahead," Ant Financial said in a statement.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Leslie