Expedia Inc., which already exercised majority control of Chinese online travel agency eLong, has gone ahead and increased its stake.
In a regulatory filing May 28, on the eve of the long holiday weekend, Expedia revealed that it purchased 16.9% of eLong’s ordinary shares.
Expedia states that the purpose of the transaction was to increase its investment in eLong.
Read the full story at http://www.tnooz.com/2010/06/01/news/expedia-increases-its-stake-in-china-online-travel-agency-elong/
