Viking Global’s Halvorsen Dumps Ctrip.com International, Ltd. (ADR) (CTRP) For Qunar Cayman Islands Ltd (QUNR)

Qunar Cayman Islands Ltd (NASDAQ:QUNR) might be half the size of Ctrip, according to the market values of the two companies, but the company, which is still to turn in a profit, rebuffed a buyout offer from Ctrip this month. Halvorsen’s bet likely indicates that he sees more growth prospects arising for Qunar Cayman Islands Ltd (NASDAQ:QUNR) than its rival, as his position in Qunar is now more than three times as valuable as his Ctrip holding. Viking Global initiated a stake in Qunar during the fourth quarter of 2014. The stock is on a spree of its own, having risen by about 48% year-to-date.

Qunar recently received the final judgment from the Beijing High People’s Court in connection with a dispute with eLong relating to an Inventory Distribution Agreement for hotels. Although the decision wasn’t in favor of the company, it will not have a material effect on its performance, since it had already recorded a one-time loss provision in its financial results for the fourth quarter owing to this lawsuit.

Daniel S. Och‘s OZ Management is the largest stockholder of Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP) within our database, holding some 4.64 million shares valued at $272.06 million, while Robert Karr‘s Joho Capital is a prominent stockholder of Qunar Cayman Islands Ltd (NASDAQ:QUNR), with 1.51 million shares valued at $62.23 million.

Disclosure: None