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Tongcheng Preparing to Stand on Its Own Without Trip.com and Tencent?

Benzinga Real-time News ·  Sep 9, 2022 10:01

Key Takeaways:

  • A new stock exchange filing shows leading online travel agent Trip.com may have begun to sell down its longtime stake in Tongcheng, the industry's second-largest player
  • China's online travel industry is riddled with anticompetitive cross-holdings, including Trip.com's stakes in Tongcheng and Qunar

By Doug Young

A quiet stock exchange announcement this week showing leading online travel agentTrip.com(NASDAQ:TCOM) sold down part of its holding in rivalTongcheng Travel Holdings Ltd. (0780.HK) barely attracted any notice in Hong Kong. The sale itself was tiny, dropping Trip.com's stake...

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