The what next question for MakeMyTrip after Ctrip
Why read this story?
Editor's note: The Competition Commission of India is looking at MakeMyTrip’s dominant position in India and whether the company has abused it. This isn’t the first time the CCI has smelt something worth investigating, but if I were you, I wouldn't worry about it a lot. MakeMyTrip has been here before and it has emerged unscathed. If you are a retail investor in the Nasdaq-listed company, I’d be more interested in what comes next in business. Shanghai-headquartered Ctrip, after a deal with South Africa’s Naspers in April, now owns just under 50% of MakeMyTrip, which currently has a market capitalization of about $2.8 billion. If the company ever dreamt of building a business outside India, this is perhaps that moment where it can piggyback on Ctrip’s global presence and experience. Independently, MakeMyTrip has been scouting the Southeast Asian market for a while now. The company’s bus business under RedBus has a tiny presence in Indonesia, Malaysia and Vietnam. It wants to do more and has said that it expects international markets to grow from 7% of its business currently to roughly 35% …
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