A British money transfer company has abruptly closed its US operation in an attempt to avoid having its planned £700m takeover by China’s Ant Financial derailed by American regulators.
WorldFirst has been in talks with Ant Financial since late last year in a deal that would mark the biggest expansion into western markets by China’s leading mobile payments provider.
In a message to customers this week, WorldFirst said its shareholders “have taken the decision to discontinue with the US operations” and will stop offering all services after February 20.
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