Ambani one step closer to creating India's Alibaba with $24b holding firm

Ambani one step closer to creating India's Alibaba with $24b holding firm

Mukesh Ambani Photographer: Simon Dawson/Bloomberg

Billionaire Mukesh Ambani moved a step closer to creating an e-commerce giant for India, unveiling plans to set up a $24 billion digital-services holding company that would become the main vehicle in his ambition to dominate the country’s internet shopping space.