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MakeMyTrip acquires rival ibibo

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India’s oldest travel website operator MakeMyTrip has agreed to buy out rival ibibo in an all-stock deal, creating the country’s largest online travel firm. The deal is one of the biggest in Indian e-commerce sector in the recent times. Ibibo majority owner is South African based Naspers Ltd with 91per cent, with the rest being owned by China’s Tencent Holding. Although neither company would indicate the value of the combined entity, people familiar with the transaction estimated it at about $1.8-$2 billion. Ibibo’s brands include goibibo for hotels and air ticketing and redBus, the bus booking portal. Newzstreet TV Videos - Dedicated to bringing you the latest and best in politics, sports, current affairs and entertainment world. From traditional sports like cricket to best Bollywood entertainment news, Newzstreet TV is a must watch for news updates. Download our Apps on : Google Play Store : https://play.google.com/store/apps/details?id=com.newzstreettv Apple Istore https://itunes.apple.com/us/app/newzstreet-tv-video-news/id1132005445?mt=8&ign-mpt=uo%3D4 Our Website http://www.newzstreet.tv
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