In brief: Ant Financial acquires UK payments firm

• The Chinese financial services giant controlled by billionaire Jack Ma bought London-based payments company WorldFirst in its biggest overseas deal since a US expansion was thwarted.
• The acquisition marks Ant’s first big move into the UK, although its Alipay service is accepted by some merchants there already.
• Ant Financial’s 2017 bid to buy Moneygram was abandoned after it failed to win approval from a national security panel.
• WorldFirst will remain independent under the terms, according to the company.

Source: Bloomberg