MakeMyTrip and Ibibo, two of the biggest online travel platforms in India, have announced a merger that will combine the two businesses under the former’s brand, with Ibibo getting a 40% stake in the combined entity.
The Transaction
Naspers and Tencent through their jointly owned company are selling ibibo Group to MakeMyTrip in exchange for a 40% stake in the combined entity. The merger is expected to close by the end of 2016..
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This is why is China so interested in investing in India despite a frosty relationship
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