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US government blocks MoneyGram sale

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US government blocks MoneyGram sale
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The US government has blocked the sale of Texas-based payment transfer service MoneyGram to Chinese online retailer Alibaba, both corporations have announced. According to sources with knowledge of the private negotiations, the Committee on Foreign Investment in the US (CFIUS) has doubts about the security of its citizens' data.

The MoneyGram deal is the latest in a series of Chinese acquisitions of American companies that have failed to clear US financial authorities.