The leading international money transfer service, MoneyGram International Inc., would be the center of a negotiation with Stellar Foundation and Advent International. It was to make known what is happening Bloomberg, who also specified that the negotiation is in practice in its early stages, without however specifying what is actually happening.
Should it go smoothly, the conclusion could still come by the end of the month. In the meantime, however, MoneyGram stock increased by 11%. A clear sign that the hypothesis of its acquisition is viewed with considerable favor by the markets.
For MoneyGram there is always a lot of interest
It should also be noted that interest is always very high for MoneyGram. Already in 2017 Ant Group, the Chinese financial services conglomerate gravitating in Alibaba's orbit, tried to acquire the company, but was stopped by the authorities responsible for the supervision of the US financial markets, which stood sideways in front of an offer equal to 1,2 billion dollars.
The same outcome that was touched by the rest a Western Union Co., which also made an acquisition offer last year, aimed at eliminating a major competitor. However, the bad luck of both operations has not clearly dissuaded others from trying.
There is therefore great curiosity about the Stella Foundation and Advent International attempt, especially in light of the previous collaboration between MoneyGram and Ripple Labs. A partnership which was terminated from the first in December 2020. That is when the company led by Brad Garlinghouse came under attack by the Securities and Exchange United States Commission for the sale of unauthorized securities.
Stellar on the Ripple attack?
The Stellar Foundation move appears to pose significant danger to Ripple. Above all because that is at the head of the project Jed McCaleb who was among its founders. Deciding to leave after a series of disagreements and to devote himself to Stellar, a network launched in 2014 as an open source platform on which the XLM token is used.
In these hours there are not a few observers ready to swear on the opening of a possible war front between Stellar and Ripple. Seeing the possible fuse capable of causing the situation to explode precisely in McCaleb's desire for revenge. This hypothesis, however, appears at the moment nothing more than a forcing.
MoneyGram was founded in 1940, in Dallas, Texas. Since then it has seen its influence in the payments sector increase to become a major player. It is currently the second largest provider of money transfer services globally. A position made possible by a network which boasts about 350 thousand agencies scattered in more than 200 countries all over the world.
It is therefore not surprising the interest of the Stellar Foundation and other companies operating in the field of blockchain, with the aim of subverting the balance of power currently existing in the world of international finance. An interest that went to pay off the desire for profits of Advent International, a company of private equity looking for assets in which to invest with well-founded hopes of seeing the capital employed pay off.