MakeMyTrip acquires rival ibibo

India Newzstreet Media

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.