Ant Financial is planning to resubmit its application for U.S. review of its deal to buy MoneyGram International Inc for $1.2 billion, a source familiar with the matter said; Ant’s latest attempt for approval would be its third as the maximum time of 75 days for assessing such applications nears completion; CFIUS is a secretive government panel which reviews acquisitions by foreign entities for potential national security risks. Source
Ant Financial will create a joint venture this year with CK Hutchison Holdings Ltd to operate its payment app in Hong Kong, ending Ant’s solo management of the service; Ant holds an electronic payments license in Hong Kong, which allowed it to launch its payment services without a local partner; the venture will allow Ant’s Alipay to offer services via companies under CK Hutchison; the companies expect the venture to be completed by the end of the year. Source