MakeMyTrip’s acquisition of Ibibo Group’s travel business in India will create one of the largest travel companies in the country. Online travel firm MakeMyTrip Ltd has agreed to buy Ibibo Group’s travel business in India in an all-stock deal, creating the country’s largest online travel firm which, according to a note by Morgan Stanley, is worth $1.8 billion.
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MakeMyTrip founder Deep Kalra will remain group CEO and executive chairman. Photo: Priyanka Parashar/Mint.