The Bellevue, Wash., online travel site said it remains a long-term investor in eLong and supports eLong's drive to become the leading Chinese travel site.
Expedia said that as a matter of corporate policy, it doesn't comment on market rumors relating to its business.
Expedia's involvement with eLong dates back to 2005, when Expedia's then-parent IAC/InterActiveCorp. took a controlling interest in the Chinese company.
In 2011, Expedia boosted its stake to near its current level of roughly 57%, while Tencent Holdings Ltd. also unveiled a strategic investment in eLong.
Meanwhile, Expedia has continued to add to its portfolio of brands from around the world.
Late Sunday, Expedia unveiled its bid to acquire one of Australia's largest online travel agencies, Wotif.com Holdings Ltd., for 703.1 million Australian dollars ($658.4 million). The deal was embraced by Wotif's board.
Last month, Expedia agreed to buy European online car-rental company Auto Escape Group from private-equity fund Montefiore Investment, and last year paid $632 million for 62% of German travel site Trivago.
Source: Wall Street Journal by Anna Prior
from China Travel & Tourism News http://ift.tt/1iB6EFm
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