TravelTek

Published on Friday, May 19, 2017

Ctrip eyeing up another European OTA


Chinese online travel giant Ctrip is reportedly eyeing a bid for European OTA Etraveli AB.

A bid for Sweden-based Etraveli could cost more than $500 million and Ctrip is not the only firm showing interest.

Thomas Ebeling, CEO of Etraveli parent company ProSiebenSat.1, said its online tourism business was being reevaluated and it had received interest for strategic investment opportunities.

The evaluation of the business is still ongoing, Ebeling said.

Investment giant Blackstone Group is also reportedly considering a bid for the company, says the China Tech News site.

Ctrip can certainly afford it - its market value has swollen to about $28.8 billion.

It recently bought Skyscanner and made a sizeable investment in leading Indian OTA MakeMyTrip.



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