BEIJING, Sept. 5 (InfoChina) – “Ctrip (Nasdaq: CTRP) has no necessity to acquire Elong (Nasdaq: LONG), since Elong has such a bad performance and Ctrip is working so well,” said an official from Ctrip.
The above statement is a response to hearsay that Expedia, shareholder of the under-performing Elong, mulls selling Elong to its rival Ctrip.
Elong has been suffering from losses since Q4 2006, and it posted a loss of 1.8 million yuan in Q2 this year, while its rival Ctrip registered a Q2 profit of 111 million yuan. (Edited by Lin Fanjing,
)
China Stock News 
