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Moneygram International Inc (NASDAQ: MGI) shares are up 9.0 percent on Thursday after Alibaba Group Holding Ltd (NYSE: BABA) payment affiliate Ant Financial agreed to purchase MoneyGram for $880 million. The merger is the latest step in Alibaba’s international expansion efforts. According to... Read More... Don't Miss Any Updates! News Directly in Your Inbox Subscribe to:
Share: Alibaba Group Holding Ltd (NYSE: BABA)-backed Ant Group Co’s Chairman Eric Jing said the company is introspecting its “shortcomings,” as reported by Bloomberg. What Happened: Jing said at the fourth China Internet Finance Forum on Tuesday that the company is working to “properly manage” issues related to its scuttled $35 billion initial public offering, according to Bloomberg. Ant is “looking into the mirror, finding out our shortcomings, and conducting a body check-up.” as per the executive. Jing revealed that the company was listening to public opinion including “...
Battered by Regulators, Ant Group Comes Out in Support of Regulation Ant Financial Executive Chairman Eric Jing. Ant Group Chairman Eric Jing heaped praise on China’s financial watchdogs, striking a conciliatory tone in his first public speech since they kneecapped the company’s mammoth IPO early last month. Speaking at an internet finance industry forum on Tuesday, Jing said Ant Group Co Ltd. was working closely with regulators and doing its best to deal with the aftermath of the listing suspension, and also revealed his strong support for state regulation, which he said would guard agai...