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Ant Financial Services Group, the world's most valuable fintech startup, acquires UK-based money-transfer company WorldFirst for over £500 million. The acquisition expands Ant's global presence and follows its unsuccessful bid to acquire MoneyGram International Inc. last year. WorldFirst recently ceased serving US customers, a move that may help Ant avoid scrutiny from the Committee on Foreign Investment in the US (CFIUS). The deal strengthens Ant's position in the international money-transfer market.
Wednesday, 13 February, 2019