Rumor: Tongcheng Travel to Merge with Wanda's Tourism Subsidiary

Sina Finance, 10/09/16

Chinese entertainment conglomerate Dalian Wanda Group's travel-focused subsidiary Wanda Tourism will reportedly be merged into online travel service provider Tongcheng Network Technology, according to a source familiar with the matter. Top executives from Tongcheng are scheduled to visit Wanda Tourism's Beijing headquarters on October 12 to discuss the details of a merger. Tongcheng's public relations department said that there is nothing to announce at this time.

Wanda Tourism was established in October 2013 and focuses on the construction of amusement parks, provision of organized travel tours, and production of travel-oriented videos. Wanda Group previously made a strategic investment in Tongcheng in July 2015.

Editor's Note: For more background on this topic, please see "Update: Tongcheng Starts IPO Process, Lands Wanda, Tencent Investment" MD 07/03/15 issue.

Keywords: Internet online travel Wanda Tongcheng Network M&A

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily