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China travel site Ctrip buys UK's Skyscanner for £1.4b

Published Thu, Nov 24, 2016 · 09:50 PM
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Shanghai

CHINA'S largest online travel agency Ctrip will buy British flight search app Skyscanner for US$1.7 billion, the companies said, as it steps up its overseas ambitions.

The travel service provider will pay £1.4 billion (S$2.5 billion), mainly in cash, for the Edinburgh-based firm, they said in separate statements late on Wednesday. Nasdaq-listed Ctrip, partly owned by Chinese search giant Baidu, provides online booking for airline and railway tickets as well as hotels, and describes itself as China's largest travel company.

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