Tencent and Ctrip help each other, but now it has to merge to survive?

The anonymous exchange of pulse revealed the news again: "Confirmed" Tongcheng and Yilong will announce the merger in September, and join hands to attack A shares. In this way, Tencent and Ctrip may become the biggest winners, and the status of OTA tyrants is basically determined.

although there was a rumor at the beginning of the year that "Tongcheng will merge with eLong, and * * * will hit A shares together", Tongcheng immediately denied the rumor at that time. The love-hate relationship between Tongcheng and Yilong has long been a well-known secret in the industry. In 214, the OTA war situation was unprecedentedly hot, and eLong and the same city launched a strategic cooperation conference of "Art with peers", aiming at the industry giant Ctrip. Ten days later, Ctrip took $22 million to become the second largest shareholder of Tongcheng.

The alliance of "Art with peers" was broken. One year later, eLong was sold to Ctrip by Expedia. When enemies meet, they are particularly jealous, but the market is not what it used to be. However, eLong has great skills and can't escape the end of being sold.

Now, eLong and the same city should once again "walk with each other in art", and their business will continue to deepen upstream, and the prospect should not be underestimated. Yilong's hotel business can just fill the shortcomings of Tongcheng's diversified business. Once merged, Tongcheng can further improve the industrial chain. In addition, Tongcheng has already invested in Huajiantang, and the investment negotiation with Hongtu Airlines has also been put on the agenda. There must be a big move in hotel aviation resources in the future. ?

On the other hand, eLong, merger seems to be a dilemma. As we all know, eLong, eager to go public, is even seeking backdoor listing. The merger with the same city can undoubtedly help eLong to hit the capital market faster, but the consequences of this trip are bound to endanger the interests of executives.

Although they are mentioned together this time, there is a world of difference in word of mouth between them. Tongcheng has won several decisive battles in the past few years, and completed the transformation from B2C to scenic Zhou Bianyou with speed, and completed the transformation from more than a dozen App downloads to becoming one of the top three wireless companies in the industry.

Being quick and refined, Tongcheng still maintains a good reputation in the face of rapid development. On the other hand, eLong. com, although it was involved in the industry five years earlier than Tongcheng, has not been as powerful as it was then. Recently, an article by a doctoral student in Tsinghua pointed directly at the poor service and ticketing problems of eLong, which attracted many netizens to spit and spit.

In addition, Tongcheng recently reported that the company achieved its first monthly profit in 43 months. If the two companies merge, eLong's body in the new company will not be very tough, and there is even the risk of being marginalized. After the merger of Tongcheng Network and eLong, the transaction scale may still be smaller than that of Feizhu and Xinmeida. As the fourth largest OTA in China, how attractive the new company is to the capital market is thought-provoking. As the major shareholder of the new company, Ctrip's competition in the same industry may become an obstacle to listing. ?

it is interesting to note that Ctrip and Tencent are among the shareholders of both parties, but will Wanda, the previous major shareholder of Tongcheng, continue to exist as a minority shareholder in the merged company? Wanda, which has completely retreated from the tourism and hotel industry, seems to have no desire to fight. Will Wanda's shareholding be converted into that of Tongcheng Travel Agency to continue to exert its residual heat?

if Wanda quits, who will be the next taker?

I thought of Sun Hongbin, hehe.