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Oak Pacific Purchases 24% Stake in eLong

Sina Tech, 2/18/09

According to a documents filed with the US Securities and Exchange Commission by Chinese online travel service provider eLong (Nasdaq: LONG), Chinese Internet platform provider Oak Pacific Interactive has purchased over 5.28 mln of eLong's common shares, or 23.7% of total stock, for a total of USD 18.5 mln. Oak Pacific plans to negotiate a strategic cooperation with eLong to discuss maximizing shareholder value, and the possibility of company mergers.

Keywords: eLong Internet LONG Oak Pacific online travel investment M&A

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