We also recently established a position in Ctrip.com International,Ltd. (NASDAQ:CTRP), China’s leading online travel platform. The company recently secured a dominant competitive position via a savvy acquisition of a controlling interest in Qunar, its principal competitor. We have been following Ctrip for some time, looking for an opportune time to invest. We believe this transaction finally ends a price war, and thus potentially opens the door to several years of profitable growth.
Baron Funds Spring Newsletter: Investing in the International Equity Markets.