Ctrip reportedly looking to buy Expedia's eLong stake

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.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs