Qunar Cayman Islands Ltd (QUNR)

30.41
0.04 0.13
Prev Close 30.45
Open 30.40
Day Low/High 30.40 / 30.53
52 Wk Low/High 25.75 / 55.93
Volume 141.28K
Avg Volume 93.20K
Exchange
Shares Outstanding 165.55M
Market Cap 5.03B
EPS -8.80
Div & Yield N.A. (N.A)
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Why Qunar Cayman Islands Limited (QUNR) and Ctrip.com International (CTRP) Stocks Are Up Today

Why Qunar Cayman Islands Limited (QUNR) and Ctrip.com International (CTRP) Stocks Are Up Today

Qunar Cayman Islands Limited (QUNR) rose Tuesday after Bloomberg reported that it is in merger talks with another Chinese travel site, Ctrip.com International (CTRP). Bloomberg reports the two entities are discussing multiple options, including a full-blown merger and a partnership. The talks are in the early stages and may not lead to a final deal, according to Bloomberg's two anonymous sources. The ownership structure and financing methods have also not been determined yet. Baidu (BIDU) controls Qunar and owns China's most popular search engine. The company has been investing in and purchasing various services to strengthen its search service and help it contend with Alibaba Group Holding and Tencent Holdings (TCEHY) for China's 618 million Internet users. Shanghai-based firm IResearch believes China's online travel market could reach $75 billion by 2017, as the growing Chinese middle class spends more money on leisure and entertainment. Qunar rose 9.41% to $29.43 at 12:12 p.m., while Ctrip.com rose 7.56% to $54.05.

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Qunar Fueled By Chinese Wealth

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Qunar, deeply aligned with leading internet company Baidu, is poised to take big market share in China's online tourism industry.