Ctrip ispoised to strengthen its position as China’s largest travel website as it teams up with Tencent to stave off competition, according to Morgan Stanley.
Ctrip isn’t going to take over 100% stake in eLong, and will keep it as a public company in order to gain approval from the regulatory body.
Recently, it is said that alibaba’s Taobao Travel planned to buy into Expedia’s online travel service provider eLong.
It’s over eLong and Tongcheng end partnership after just 40 days eLong says Tongcheng has agreed to pay eLong $4 8 million in exchange for termination of the “strategic cooperation agreement”
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