Ctrip.com: No Longer Interested In Pursuing M&A Discussion With Qunar

(RTTNews) - Ctrip.com International Ltd. (CTRP) announced it is no longer interested in pursuing a potential M&A discussion with Qunar Cayman Islands Limited (QUNR), given Qunar's recent earnings performance and corporate actions.

The company said, after being approached by Qunar, it sent a confidential, non-binding, preliminary proposal to Qunar's board in early May. Ctrip received a response stating that the proposal was not accepted.

Ctrip said the company will continue to explore other partnership opportunities that will bring strategic value in the Internet and e-commerce space.