Tongcheng Travel Cancels Acquisition Intent

Tongcheng Travel Holdings Limited (HK:0780) has released an update.

Tongcheng Travel Holdings Limited has announced the termination of the Letter of Intent for a possible acquisition, following the agreement’s expiration without reaching terms. The Seller will refund the Investor the RMB100 million Earnest Money, and the company’s board believes this termination will not materially impact their operations or financial position.

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