Expedia (EXPE) acquires Renren's (RENN) interest in Chinese online travel provider eLong (LONG)...

|By:, SA News Editor

Expedia (EXPE) acquires Renren's (RENN) interest in Chinese online travel provider eLong (LONG) for $23/share - marking a 65% premium to Friday's closing price. An exec with Expedia says China is a key market in the firm's efforts to expand globally.