Ctrip, Qunar to form travel leader $15.6 billion
By Bloomberg | China Daily | Updated: 2015-10-27 08:41
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.
Under the deal, Ctrip will own roughly 45 percent of Qunar, the company said in a statement on Monday.
Baidu, which owns 20 percent of Qunar, will take a 25 percent stake in Ctrip. The two companies will also combine products and services.
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