• Ctrip and Qunar tie up
Ctrip is to acquire Baidu’s stake in rival Qunar in exchange for shares, bringing together two of China’s largest online travel agents. The deal leaves Ctrip with 45% of Qunar’s voting interests and follows a knock-back earlier this year when Ctrip made an unsolicited offer for the group. Taking Ctrip and Qunar’s closing share prices
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