MakeMyTrip is buying out its Chinese stakeholders; these startups have also reduced Chinese holdings

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After coming under fire from rivals for allegedly being a China-controlled company, MakeMyTrip is set to join a group of companies that have lowered the stake of their Chinese investors.

India’s largest online travel platform plans to raise $3 billion through a mix of debt and equity to buy back shares from Trip.com Group. Following this, Trip.com’s stake in MakeMyTrip will drop to 19.99% from 45.34% currently, and its board representation will shrink to two directors from five.

Other Indian companies have also been reducing the stakes held by…



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MakeMyTrip is buying out its Chinese stakeholders; these startups have also reduced Chinese holdings


After coming under fire from rivals for allegedly being a China-controlled company, MakeMyTrip is set to join a group of companies that have lowered the stake of their Chinese investors.

India’s largest online travel platform plans to raise $3 billion through a mix of debt and equity to buy back shares from Trip.com Group. Following this, Trip.com’s stake in MakeMyTrip will drop to 19.99% from 45.34% currently, and its board representation will shrink to two directors from five.

Other Indian companies have also been reducing the stakes held by…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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