Scalper1 News
Amid a cutthroat price war in China’s $116 billion travel market, Expedia cut its losses Friday and shed its majority stake in eLong, potentially allowing rival Ctrip International to tighten its grip on the country’s booming online booking sector. Expedia sold its 62.4% stake in the struggling Chinese online travel agency (OTA) for $671 million. Ctrip (CTRP) picked up a 37.6% stake in eLong for $400 million. Ctrip shares leapt 18% Scalper1 News
Scalper1 News