Indian billionaire borrows from banks including China Development

12/23/2010 | Bloomberg

Companies controlled by billionaire Anil Ambani borrowed $3 billion from banks including China Development Bank. Reliance Communications, the second-biggest cell phone operator in India, will borrow some of $1.9 billion from the Chinese bank to finance expansion. Reliance Power will take $1.1 billion to help pay for an electricity plant.

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