ET-China.com
The Group is primarily engaged in serving the corporate and leisure markets in South China
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Et-China soars after Kuoni buys hedge fund’s 31.8 pct stake in company
Shares in Et-china.com International Holdings LTD (AIM: ETC) got an enormous boost today from news that Kuoni Travel Holding Ltd has bought the 31.8 percent stake in the company that was held by hedge fund Gandhara Master Fund Ltd. Financiasl details were not disclosed
At mid-morning, Et-China was trading up nearly 65 percent from yesterday’s closing level.
In a statement, the group said it considers the acquisition of Gandhara's shares to be in Et-China’s best interests given the expected synergistic benefits and the global expertise of Kuoni.
President and CEO Matthew Ng said: “I believe this gives us an opportunity to create a strategic alliance with an established global tour operator. This marks another significant change for Et-china and we expect growth opportunities in the inbound and outbound business.”
Other ET-China.com news
- Et-China’s GZL subsidiary achieves record performance over national day holiday
2009-10-21 - Et-china.com reports "substantial" boost in trading during Chinese New Year
2009-02-10
