MakeMyTrip Acquires Ibibo

Makemytrip and Ibibo have agreed to merge in a stock transaction, representing the coming together of India’s largest travel booking portals and presaging what many believe is an impending consolidation in the country’s consumer internet sector. MakeMyTrip has acquired rival Ibibo in a 720 million all stock deal. This will make the combiined entity worth 1.8 billion dollars. Here's a special report. Tune in.