How big data fears doomed Ant Financial's US dream

Collapse of its bid for MoneyGram reflects mounting scepticism China's giant data aggregators can secure clients’ privacy. This perception could seriously hinder growth.

Alison Tudor-Ackroyd Danny Leung

January 03, 2018

A US national security watchdog’s refusal to approve Ant Financial’s $1.2 billion acquisition of Dallas-based money transfer firm MoneyGram on Tuesday shows its deep mistrust of how China’s largest technology firms would use data they collect from citizens.

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