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After coming under fire from rivals for allegedly being a China-controlled company, MakeMyTrip is set to join a group of companies that have lowered the stake of their Chinese investors.
India’s largest online travel platform plans to raise $3 billion through a mix of debt and equity to buy back shares from Trip.com Group. Following this, Trip.com’s stake in MakeMyTrip will drop to 19.99% from 45.34% currently, and its board representation will shrink to two directors from five.
Other Indian companies have also been reducing the stakes held by…
