wordpress blog stats
Connect with us

Hi, what are you looking for?

Euronet proposal counters MoneyGram-Ant Financial merger; India implications

We missed this one It looks like MoneyGram's proposed $880 million merger with China's Ant Financial might be in trouble following an unsolicited proposal from Euronet, a Kansas-based electronic payments company. MoneyGram's board is considering Euronet's proposal to acquire all outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20. Ant Financial had offered $13.25 per share in cash. Bloomberg points out that Ant Financial will either counter the bid with a higher offer or wait for the board to complete due diligence on the Euronet proposal. The report added that Euronet is confident that its deal will go through with US regulators. The Ant Financial could deal could fail as the Committee on Foreign Investment in the US (CFIUS), an inter-department body which looks at acquisitions by foreign companies, could be influenced by President Donald Trump's "America First" policy (Jack Ma's comments on an impending trade war between the US and China probably doesn't help). Why it matters to India Note that Ant Financial's merger with MoneyGram also talked about being able to tap the 450 million users registered users on Alipay (in China), and the 200 million users registered with Paytm (in India). Ant Financial initially purchased a 25% stake in One97 Communications, which operates Paytm, in February 2015, which operates the Paytm in India. Six months later in September, Paytm raised an undisclosed amount in a round of funding from both Alibaba and Ant Financial. At that time, Alibaba Group picked up a 20% stake in Paytm for about $680 million and lowered…

Please subscribe/login to read the full story.
Written By

Free Reads

News

The tech giant will only have a minor stake in Anthropic and hence won't be part of its board.

News

The Board said that Meta’s approach to moderating content using “shaheed” to refer to individuals designated as dangerous “substantially and disproportionately restricts free expression.”

News

Foreign fintech entities like Google Pay and PhonePe are dominating the UPI market and CCI has been urged to regulate this in the past.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ