Ant Financial drops bid for MoneyGram

US national security panel's roadblocks to deal come as Washington toughens stance toward Chinese buyers

Ant Financial Services Group is calling off its acquisition of US-based Money-Gram International Inc, after failing to gain approval from Washington's national security panel, which is increasingly obstructive toward Chinese investment in US firms.

The demise of the deal is the latest example of political concerns trumping business factors at a time when the White House has toughened its stance on the sale of entities to Chinese buyers, experts said.