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China Businesses

China Travel Firm Ctrip To Buy Skyscanner For $2.5 Billion (straitstimes.com) 5

An anonymous reader shares a report: Ctrip.com International will buy British flight price-checking site Skyscanner for about S$ 2.5 billion, as China's largest online travel firm explores ways to expand beyond a home market it already dominates. The deal will allow Ctrip, whose growth has been tied to the sharp rise of Chinese tourism, to gain a strong foothold in Europe. Skyscanner, one of the region's larger flight-ticketing services, has more than 60 million monthly active users. Ctrip said it would be able to offer a more complete array of options combining air, rail and road travel. It announced the deal on Wednesday, alongside better-than-expected quarterly revenue and earnings. Its shares climbed almost 7 per cent in New York in after-hours trade.
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China Travel Firm Ctrip To Buy Skyscanner For $2.5 Billion

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  • In Soviet Britain Chicom chairman buys you!

  • The model for UK businesses these days seem to be to sell themselves to overseas owners, and become a subsidiary. We have hardly any big companies left any more. Most of our manufacturing and services are foreign owned now.

    Why are we so bad at investing in our own companies? Why do they have to go overseas to get that investment?

    And what happens after Brexit? We used to be attractive as a gateway to the EU, but if we hard Brexit that advantage will be gone. Financial services are already moving away. People say the ARM sale to Softbank is proof that Brexit didn't harm us, but maybe it's more like taking advantage of the devastating losses that the Pound suffered and realizing that intellectual property moves more freely than goods and services.

  • Every Chinese peerson I knew all used qunar and ctrip was for foreigners who wanted to book trips to/from China. Outside of China I've always used Skyscanner with great content. I keep being amazed at how a simple website who just links you to other websites can be have so much value.

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