Alibaba buys MonayGram

Digital payment division of Alibaba, Ant Financial is planning to purchase American money transfer business MoneyGram in a deal worth $1,2 billion. Upon completion of purchase Ant Financial is ready to take all debts of MoneyGram that makes $940 million in total. The acquisition of MoneyGram is a significant milestone for the company as it gives an access not only to the new customers, but also it opens a door to the US stock market.

Starting from the beginning of April the shares of Alibaba rose by 3,4% and continue to rise. The trade will be available during American session from 14:40 to 21:00 GMT.

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