Two Major Chinese Lenders to Support China Development Bank’s Insolvency Plea Against RCom
Reliance Communications' two other major Chinese lenders -- Industrial and Commercial Bank of China (ICBC), the country's biggest-listed lender by assets, and Export-Import Bank of China, plan to back China Development Bank's recent move to take the Anil Ambani-led telco into insolvency court to recover about $2 billion in debt. The development comes just after Fitch Ratings said that it has withdrawn India-based Reliance Communications' for commercial reasons, and said... Read More