Naspers has swapped its interest in India-based online travel platform MakeMyTrip for a 5.6% stake in China’s Ctrip.com International.  The share exchange transaction allows Ctrip to enjoy a larger exposure to the India travel market and benefit from the growth of MakeMyTrip, Naspers said. The Nasdaq-listed Ctrip, already a large shareholder of MakeMyTrip, has a market capitalisation of $23.5bn (R339bn), meaning Naspers’s stake will be worth about $1.3bn at current valuations. The deal will also allow Nasdaq-listed MakeMyTrip “to benefit from Ctrip’s significant global scale”. The share exchange transaction is a significant step in the growth ambitions of both MakeMyTrip and Ctrip, Naspers said.

PODCAST | Consumers are fed up with Telcos..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now