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MoneyGram executives exploring sale options, including potential sale

Reuters is reporting that executives at MoneyGram are assessing the possibility of  selling the brand.
 
This come a year after Ant Financial's failed attempted to acquire the remittance giant for US$1.2 billion.
 
Despite being one of  the most trusted remittance brands in the world and having overseas transfer rates that are often considered better than its direct competitor Western Union, the brand was still in huge trouble in 2018 due to its accumulated debt.
 
In September, MoneyGram confirmed a net debt of  $903 million . 
 
Observers say the brand was midway through a technological transformation that would have slashed its overhead costs.
 
The brand took another hit in November after the US Federal Trade Commission sent it a $125 million bill as settlement for not taking steps to prevent fraudulent transfers.
 
LASCO Financial Services is an agent of  MoneyGram in Jamaica.


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