Anil Ambani’s Reliance conglomerate is exploring a tie-up with China’s Dalian Wanda Group, a property developer, which would be the latest in a series of Chinese deals for the Indian billionaire’s struggling business empire.
The two groups said in a statement that they were working on a potential joint venture to develop property already owned by various divisions of Reliance in two Indian cities.
Mr Ambani is one of India’s most high-profile business tycoons, but his telecoms, infrastructure and financial services-focused empire has faced falling profits and rising debts in recent years, as India’s economy has slowed.
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