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  • Associated Press2 years ago

    Expedia sells stake in Chinese travel service

    Expedia sold its entire stake in eLong, a Chinese travel service, to a group of businesses based in China for roughly $671 million. The news sent shares of the online travel company up more than 5 percent ...

  • Reuters2 years ago

    Wotif.com says NZ regulator clears takeover by Expedia

    New Zealand's competition regulator has cleared online travel giant Expedia Inc to buy Wotif.com Holdings Ltd, leaving just one final regulatory hurdle for the A$699 million ($610 million) deal. Concerns had been raised by hoteliers about the deal and the increased market share Expedia would have in some markets, knocking shares in Wotif.com on worries the deal might not be approved. "All of the conditions precedent to the scheme of arrangement, save for approval by the Supreme Court of Queensland, have now been satisfied," Wotif.com said in a statement. "A final hearing will be held at the Queensland Supreme Court tomorrow morning.

  • Reuters2 years ago

    Australia watchdog defers ruling on Expedia acquisition of Wotif

    Australia's competition watchdog has deferred a ruling on travel firm Expedia Inc's proposed acquisition of Wotif.com Holdings Ltd until Oct. 2, sending the Australian company's shares down as much as 7.4 percent. The Australian Competition and Consumer Commission is exploring whether the removal of Wotif from the Australian market will lead to an increase in commission rates charged to hotels and other accommodation providers, it said in a statement on Thursday. In morning trade, Wotif shares were down 4.9 percent at A$3.1 each, after posting their biggest one-day drop in 5-1/2 months.