After a yearlong battle trying to convince US regulators about their acquisition of MoneyGram, Alibaba’s Ant Financial called off the deal; having a significant presence in the US is the one area that Alibaba head Jack Ma has yet to succeed; the $1.2bn deal would have helped to establish their Alipay product immediately; this looks to potentially ratchet up trade issues between the two countries as the new administration has taken an aggressive stance towards China. Source.
