Chinese online travel company Ctrip said on April 26 that it would increase its stake in Indian rival MakeMyTrip to 49%, through a share exchange deal with South Africa’s Naspers. The South African tech company agreed to swap its stock for a 5.6% holding in Ctrip.
Ctrip, which is NASDAQ- listed, is expected to release first quarter earnings on May 22 in New York. Its stock is up 31% since the start of January.
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