China's Ctrip now owns half of India's MakeMyTrip following share swap with Naspers

China's Ctrip, the world's second largest online travel company, is doubling down on India after it announced a deal to increase its ownership of travel company MakeMyTrip to nearly half. Ctrip will boost its ownership of MakeMyTrip, which is listed on the Nasdaq as Ctrip, to 49 percent through an exchange deal that sees Naspers, the South African internet giant and early backer of Tencent, swap its shares for 5.6 percent of Ctrip.