The Chinese internet giant Alibaba has received a massive 3 billion US dollar loan.
The loan was provided by several international banks, including Morgan Stanley, Citigroup and Goldman Sachs, and will be used by Alibaba over the next 5 years to expand its business and make acquisitions.
It is rumoured that the company will use the money to invest in cars, a Chinese business magazine and online coupons.
It is also allegedly planning to make changes to its ecommerce sites, as well as boost its cross-border ecommerce business.Â
