Chinese online travel company Ctrip (CTRP -5.8%) is down sharply following Tencent's (TCEHY.PK)...

|By:, SA News Editor

Chinese online travel company Ctrip (CTRP -5.8%) is down sharply following Tencent's (TCEHY.PK) acquisition of a stake in eLong (LONG +54.2%), one of Ctrip's competitiors. Tencent is China's largest internet company, so the deal is likely to loosen Ctrip's grip on the online travel market.