Priceline Group is taking a $500m stake in Ctrip, the Shanghai-based travel booking website, increasing the biggest US online travel agent’s footprint in China’s fast-growing tourism market.
The Connecticut-based company will invest $500m via a convertible bond. It will also gain the right to acquire Ctrip shares on the open market over the next year to build a stake which, combined with the shares convertible under the bond, could be worth up to 10 per cent.
Ctrip, which listed on Nasdaq in 2003, has a market capitalisation of $8.2bn.
您已阅读20%（539字），剩余80%（2133字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。