China travel site Ctrip buys UK's Skyscanner for £1.4b
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Possible class action lawsuit against Cordlife by customers could take at least 2 years
Chinese tariffs could leave cognac makers with too much brandy
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share