Expedia rises after ValueAct buys stake

Recruit Holdings

15/11/2023 14:24

** Shares of online travel services provider Expedia
 EXPE.O  rise 1.5% to ~$124 after ValueAct Capital Management
buys stake 
    ** The investment firm announced the new position, without
saying how big it is, in a Nov. 15 letter to clients which was
seen by Reuters
    ** ValueAct also acquired stake in Indeed parent Recruit
Holdings  6098.T  
    ** Letter says the two firms are set to benefit from smarter
pricing, better cost management and shrewd modernization of the
services used to run websites.
    ** EXPE up ~40% YTD

 (Reporting by Aishwarya Jain)
 ((Aishwarya.Jain@thomsonreuters.com))