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
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