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>> The first high-profile Chinese deal blocked under Donald Trump. On Tuesday, a US panel rejected the $1.2 billion sell of money transfer company, MoneyGram, to Ant Financial, owned by top execs of Chinese titan, Alibaba. The panel cited worries over national security on data that may be used to identify US citizens.
The deal's collapse is a blow for Alibaba head, Jack Ma, who aimed to expand its reach abroad as competition gets fierce over payment services in China. As Reuters Kane Wu reports, it wasn't for lack of trying by Ma.>> Neither Alibaba Group nor Jack Ma had come out with a statement about this deal.
But then not so long ago, Jack Ma had this really friendly meeting with Donald Trump promising to create one million jobs in the US. And people actually use that as a goodwill gesture and people thought that it would mean that the deal will go out, but apparently it didn't.
So we'll see what happens with Jack Ma's promise. No one knows for sure at the moment.>> The MoneyGram failure has raised questions among deal-makers. Under the Trump administration, if a company linked to Jack Ma, one of the biggest names in China, can't buy a US company who can and should they look elsewhere.
For now, many Reuters spoke to on Wednesday viewed it as a one-off>> Companies from China still have a strong interest in acquiring strategic assets globally, including the US. Especially in sectors that are not considered as sensitive as the financial or as a technological sector such as consumers, or house care, or even real state.
But some areas would be probably more challenging than others.>> Red tape and local competition have made America the smallest region for Chinese deals globally over the last ten years. Some Chinese buyers have begun to adapt, opting to issue loans instead of buying a stake or snapping up minority investments instead or out taking Alibaba's fiercest rival, Tencent.