Two of China’s largest online travel booking sites are in discussions to merge, but the plans have been derailed thanks to US-based Priceline’s entrance into the picture.
Ctrip and rival Qunar have been in merger discussion for two years. But their market share is small compared to Priceline, which is worth more than $60 billion.
Priceline has reportedly announced a $500 million acquisition of Ctrip, a move that could entirely destroy Ctrip’s plans with Qunar. According to some experts, Ctrip will likely decide that partnering with a global leader in its industry is better than merging with a small peer.
According to reports, Priceline’s investment will result in no more than 10 percent of Ctrip stake. The deal is subject to regulator approval./p>
Full content: Want China Times
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