Alibaba Receives $3 Billion Loan

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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. 

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