ctrip announced today that Priceline will through the form of convertible bonds to ctrip investment of $500 million, in the coming year through the open market to buy its shares. Included in the convertible bonds include shares, Priceline is expected to hold up to 10% of the total shares outstanding ctrip.
the biggest purpose of cooperation is took a fancy to the development of China’s entry and exit travel business opportunity. According to the cooperation agreement, Priceline will open to the ctrip customers since its in the greater China region outside of the world more than 50 m hotel resources, the same ctrip in greater China for more than 10 m hotel resources will be open to for customers.
such cooperation also make earlier ctrip for elong stake rumors of a complete abortion. Online travel market in the whole world, Priceline at the top of the list, “the second. Moreover, company is the major shareholder of elong. There is severe competition for the business.