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ÇൺϣÄá¶û·­Ò빫˾£¨www.joshualeeproperties.com£©2015Äê10ÔÂ28ÈÕÁ˽⵽£ºÖйúÁ½´óÁìÏÈÂÃÐÐÍøÕ¾Ð¯³Ì(Ctrip.com)ºÍÈ¥ÄĶù(Qunar)×òÈÕÐû²¼½á³ÉÕ½ÂÔºÏ×÷»ï°é¹ØÏµ£¬´Ë¾Ù´´½¨ÁËÈ«¹ú×î´óµÄÔÚÏßÂÃÐзþÎñ£¬²¢½«³ä·ÖÀûÓÃÖйú¿ìËÙÔö³¤µÄÂÃÓÎÊг¡¡£Ctrip.com and Qunar, China¡¯s two leading travel websites, yesterday announced a strategic partnership in a deal that creates the country¡¯s biggest online travel service and taps into its fast-growing tourism market.

Under the terms of the deal, Ctrip.com will own roughly 45 per cent of Qunar, while Qunar¡¯s backer, China search group Baidu, will take a 25 per cent stake in Ctrip.com. ¸ù¾ÝЭÒéÌõ¿î£¬Ð¯³Ì½«ÓµÓÐÈ¥ÄĶù´óÔ¼45%¹É·Ý£¬¶øÈ¥ÄĶùµÄºǫ́ÖйúËÑË÷¼¯ÍŰٶÈ(Baidu)½«³ÖÓÐЯ³Ì25%¹É·Ý¡£

Baidu¡¯s US-listed shares rose more than 9 per cent in premarket trading on news of the deal. Õâ±Ê½»Ò×µÄÏûÏ¢´«³öºó£¬°Ù¶ÈÔÚÃÀ¹úÉÏÊÐµÄ¹ÉÆ±ÔÚÅÌǰÉÏÕÇÓâ9%¡£

Shares in Qunar rose 24 per cent, while Ctrip.com shares were up 14.34 per cent. È¥ÄĶù¹É¼ÛÉÏÕÇ24%£¬¶øÐ¯³Ì¹É¼ÛÉÏÕÇÁË14.34%¡£

The deal comes just five months after Qunar, which has a market value of $5.2bn, rejected an unsolicited buyout offer from Ctrip.com, which has a market capitalisation of $10.6bn. Both companies are listed on the Nasdaq stock exchange. Õâ±Ê½»Ò×½ö½öÎå¸öÔÂǰ£¬ÊÐÖµ´ïµ½52ÒÚÃÀÔªµÄÈ¥ÄĶù£¬¾Ü¾øÁËЯ³Ì£¨ÊÐÖµ106ÒÚÃÀÔª£©·½Ãæ²»Çë×ÔÀ´µÄÊÕ¹ºÒªÔ¼¡£Á½¼Ò¹«Ë¾¶¼ÔÚÄÉ˹´ï¿Ë(Nasdaq)ÉÏÊС£

Intense competition between internet companies in China means market leaders are often under heavy pressure to subsidise consumers as a way of gaining market share. But in recent months, investors have been pushing these companies to merge and reduce marketing costs. Öйú»¥ÁªÍø¹«Ë¾Ö®¼äµÄ¼¤ÁÒ¾ºÕùÒâζ×Å£¬Êг¡Áìµ¼ÕßÍùÍùÊܵ½ÖØÑ¹£¬ÒªÇóËûÃDz¹ÌùÏû·ÑÕßÒÔÀ©´óÊг¡·Ý¶î¡£µ«½ü¼¸¸öÔÂÀ´Í¶×ÊÕßÔÚÍÆ¶¯ÕâЩ¹«Ë¾ºÏ²¢£¬ÒÔ½µµÍÓªÏú³É±¾¡£

Qunar has been the fastest-growing online travel agency in China this year, but the company has incurred heavy losses, and its margins come under pressure, in part because of its discounting and coupon strategy. È¥ÄĶùÊǽñÄêÖйúÔö³¤×î¿ìµÄÔÚÏßÂÃÐÐÉ磬µ«¸Ã¹«Ë¾ÔâÊÜÁË´ó¶î¿÷Ëð£¬ÀûÈóÂÊÃæÁÙѹÁ¦£¬ÕâÔÚÒ»¶¨³Ì¶ÈÉÏÊÇÒòΪËüµÄÕÛ¿ÛºÍÓÅ»Ýȯ²ßÂÔ¡£

Earlier this month, the need to consolidate triggered the merger between Meituan.com and Dianping Holdings ¡ª which handle ¡°online to offline¡± services such as group buy, food delivery and restaurant reviews. ±¾ÔÂÔçЩʱºò£¬ÕûºÏÐèÒª´ÙʹÃÀÍÅ(Meituan.com)ºÍ´óÖÚµãÆÀ(Dianping Holdings)ºÏ²¢£¬ËüÃǾ­Óª¡°ÏßÉϵ½ÏßÏ¡±(O2O)·þÎñ£¬ÈçÍŹº¡¢ËͲͺͲÍÌüÆÀÂÛ¡£

That followed the merger in February between Alibaba-backed Kuaidi Dache and Tencent¡¯s Didi Dache, the taxi-hailing applications, after the two engaged in a costly subsidy and price war. ÔÚÄÇ֮ǰ£¬³ö×â³µ½Ð³µÓ¦Ó᪡ª°¢Àï°Í°Í(Alibaba)Ö§³ÖµÄ¿ìµÄ´ò³µ(Kuaidi Dache)ºÍÌÚѶ(Tencent)Ö§³ÖµÄµÎµÎ´ò³µ(Didi Dache)¡ª¡ªÔÚ¿ª´òÁËÒ»³¡´ú¼Û¸ß°ºµÄ²¹ÌùºÍ¼Û¸ñÕ½Õùºó£¬ÔÚ½ñÄê2Ôºϲ¢¡£

Online travel is booming in China as a growing middle class spends more on leisure and entertainment. But the sector has also become increasingly competitive, with rival internet giant Alibaba Ëæ×ÅÖйú²»¶Ï׳´óµÄÖвú½×²ã¼Ó´óÐÝÏкÍÓéÀÖÖ§³ö£¬ÖйúµÄÔÚÏßÂÃÓÎÕýÔÚÅ·¢Õ¹¡£µ«ÊÇ£¬¸ÃÐÐÒµµÄ¾ºÕùÒ²Ô½À´Ô½¼¤ÁÒ¡£¾ºÕù¶ÔÊÖ¡¢»¥ÁªÍø¾ÞÍ·°¢Àï°Í°ÍÈ¥Äêͨ¹ý°¢ÀïÂÃÐÐ(Alitrip)ÍøÕ¾¼ÓÇ¿ÁËÆäÂÃÓηþÎñ¡£

beefing up its travel offering through its Alitrip website last year. ¡°ÎÒÃÇÏàÐÅÕ⣨±Ê½»Ò×£©Î´À´½«ÎªÎÒÃǵĿͻ§¡¢ºÏ×÷»ï°éºÍ¹É¶«´´Ôì¸ü´ó¼ÛÖµ£¬¡±Ð¯³ÌÊ×ϯִÐйټ涭ʳ¤Áº½¨ÕÂ(James Liang)ÔÚÒ»·ÝÉùÃ÷Öбíʾ¡£

¡°We believe this [transaction] will create greater value to our customers, partners and shareholders in the future,¡± James Liang, Ctrip¡¯s chief executive and chairman, said in a statement. °Ù¶ÈÊ×ϯִÐйÙÀîÑåºê(Robin Li)±íʾ£º¡°ÎÒÃǶÔÈ¥ÄĶùµÄ³É¾Í¸Ðµ½ÂúÒ⣬ÎÒÃÇÆÚ´ý×ÅÓëÒµÄÚÁìÏÈÕߺÏ×÷¡£¡±

Robin Li, Baidu chief executive, said: ¡°We are happy with Qunar¡¯s accomplishments, and we look forward to working with the leading players in the industry.¡±


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