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India-based MakeMyTrip to buy rival ibibo Group

Reuters 

(Reuters) - India-based travel website operator Ltd said it would buy rival Group in an all-stock deal, adding popular online ticketing websites such as goibibo.com and redbus.com to its portfolio.

shares rose as much as 55.4 percent in morning trading.

owners, including South Africa-based Naspers Ltd and China's Tencent Holdings Ltd, will own 40 percent of after the deal closes, expected by the end of December.

MakeMyTrip, which missed profit estimates for the last seven quarters, is expected to report second-quarter loss of 63 cents and revenue of $50 million, according to Thomson Reuters data.

shares were up 48 percent at $30.15 in late morning trading on Tuesday on the Nasdaq.

(Reporting by Ankit Ajmera and Laharee Chatterjee in Bengaluru; Editing by Savio D'Souza and Anil D'Silva)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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India-based MakeMyTrip to buy rival ibibo Group

(Reuters) - India-based travel website operator MakeMyTrip Ltd said it would buy rival ibibo Group in an all-stock deal, adding popular online ticketing websites such as goibibo.com and redbus.com to its portfolio.

(Reuters) - India-based travel website operator Ltd said it would buy rival Group in an all-stock deal, adding popular online ticketing websites such as goibibo.com and redbus.com to its portfolio.

shares rose as much as 55.4 percent in morning trading.

owners, including South Africa-based Naspers Ltd and China's Tencent Holdings Ltd, will own 40 percent of after the deal closes, expected by the end of December.

MakeMyTrip, which missed profit estimates for the last seven quarters, is expected to report second-quarter loss of 63 cents and revenue of $50 million, according to Thomson Reuters data.

shares were up 48 percent at $30.15 in late morning trading on Tuesday on the Nasdaq.

(Reporting by Ankit Ajmera and Laharee Chatterjee in Bengaluru; Editing by Savio D'Souza and Anil D'Silva)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Business Standard
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India-based MakeMyTrip to buy rival ibibo Group

(Reuters) - India-based travel website operator Ltd said it would buy rival Group in an all-stock deal, adding popular online ticketing websites such as goibibo.com and redbus.com to its portfolio.

shares rose as much as 55.4 percent in morning trading.

owners, including South Africa-based Naspers Ltd and China's Tencent Holdings Ltd, will own 40 percent of after the deal closes, expected by the end of December.

MakeMyTrip, which missed profit estimates for the last seven quarters, is expected to report second-quarter loss of 63 cents and revenue of $50 million, according to Thomson Reuters data.

shares were up 48 percent at $30.15 in late morning trading on Tuesday on the Nasdaq.

(Reporting by Ankit Ajmera and Laharee Chatterjee in Bengaluru; Editing by Savio D'Souza and Anil D'Silva)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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