Trip.com Approved to Sell Tripadvisor Holdings Under Expanded Partnership
June 01 2021 - 9:47AM
Dow Jones News
By Dave Sebastian
Trip.com Group Ltd. has been approved to sell a portion of its
holdings in Tripadvisor Inc., comprising about 6.95 million shares
as of April 16, to meet corporate needs, the companies said.
The waiver under the governance agreement is part of an
expansion of Trip.com and Tripadvisor's partnership first announced
in November 2019, the companies said Tuesday. Trip.com Chief
Executive Jane Sun will continue serving on the Tripadvisor board,
the companies added.
The companies said Trip.com will initially provide access to
preferential pricing on at least 10,000 properties for the benefit
of Tripadvisor Plus, a direct-to-consumer subscription service. The
collaboration, to be launched later this year, could expand over
time, the companies said.
The companies said Ctrip Investment Holding Ltd., a subsidiary
of Trip.com and Tripadvisor unit Tripadvisor Singapore Private
Ltd., will continue to partner on the joint venture that serves
travelers in mainland China.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
June 01, 2021 09:34 ET (13:34 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
TripAdvisor (NASDAQ:TRIP)
Historical Stock Chart
From Mar 2024 to Apr 2024
TripAdvisor (NASDAQ:TRIP)
Historical Stock Chart
From Apr 2023 to Apr 2024
