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Ctrip buys Naspers stake, strengthens its stake in Indian travel company Make My Trip

The world's 2nd largest online travel company Ctrip announced a deal to buy the entire stake of South African Internet giant Naspers in Indian travel company MakeMyTrip. Ctrip is going to increase its stake in MakeMyTrip to 49% via an exchange deal that sees Naspers swap its shares for 5.6% of Ctrip. Ctrip & Naspers had invested $330 million into MakeMyTrip & merged Ibibo with MMT's India business 2 years back.