Ctrip reportedly looking to buy Expedia's eLong stake

|By:, SA News Editor

An "industry insider" tells Marbridge Consulting Ctrip (CTRP +0.9%) plans to buy Expedia's (EXPE +2%) 65% stake (82.4% voting right) in rival Chinese travel bookings site eLong (LONG +4.4%) through a share swap that would value eLong (current market cap of $754M) at $800M-$1B.

Marbridge notes Tencent owns 15% of eLong's voting rights, and that Ctrip and Tencent have jointly invested in two companies - one of them is LY.com, which Ctrip recently poured $200M into.

eLong and Expedia are trading higher. Some of Marbridge's scoops have panned out, and others haven't.