Ctrip, Qu­nar cre­ate big­gest travel agency

China Daily (Canada) - - NEWS CAPSULE -

On­line travel com­pany Ctrip. com In­ter­na­tional Ltd and its ri­val Qu­nar Cay­man Is­lands Ltd have agreed to a share swap and part­ner­ship that will cre­ate China’s big­gest on­line travel ser­vice.

Ctrip will own roughly 45 per­cent of Qu­nar, the sec­ond­largest on­line travel agency in China, the com­pany said in a state­ment. Baidu, which owns 20 per­cent of Qu­nar, will take a 25 per­cent stake in Ctrip. The two com­pa­nies will also com­bine prod­ucts and ser­vices.

The two com­pa­nies have a com­bined mar­ket value of $15.6 bil­lion, ac­cord­ing to data com­piled by Bloomberg.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.