Oct 10, 2016 03:19 PM

M&A

Wanda Makes Foray into Online Travel Business with Tongcheng Merger

(Beijing) — A popular online travel service provider said it will acquire a dozen travel agencies owned by real estate and entertainment giant Dalian Wanda Group for an undisclosed amount.

A subsidiary of Tongcheng Network Technology Co. Ltd. said it will incorporate 12 travel agencies owned by Wanda Tourism into its business, according to an internal letter from Wu Zhixiang, chief executive of Tongcheng, to his employees on Sunday.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Asia New Vision Forum Kicks Off in Singapore

PODCAST

Caixin Deep Dive: Former Securities Regulator Yi Huiman’s Corruption Probe

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: China’s Last Big Bet on Its Energy Reform in Race to Cap Carbon Emissions

2: Exclusive: Citic Bank’s International Department Chief Becomes Unreachable

3: Beijing Reins In Hong Kong Crypto Rush, Tells Firms to Scale Back

4: In Depth: Starbucks, Burger King Overhaul China Strategies

5: Shanghai Raises Margins on Gold, Silver Amid Fed-Driven Market Frenzy

SPONSORED

OR