Expedia Exits China, Sells eLong Stake to Ctrip

Expedia has sold its 62% stake in Chinese OTA eLong to main rival Ctrip and other investors for a reported USD671m. Even though eLong has been bleeding money for many years, the sale still comes as a shock with Expedia CEO Dara Khosrowshahi  repeatedly and strongly backing the venture.  See story.

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