Baidu’s Qunar Said to Be in Merger Talks With Ctrip

Baidu Inc.’s Qunar travel website is in discussions to merge with Ctrip.com International Ltd., according to two people with direct knowledge of the talks. Shares of all three companies surged.

The talks include a range of possibilities, from a full-blown merger to a partnership, the people said, asking not to be identified because the negotiations are private. The talks are at an early stage and may not result in a final deal, the people said. The ownership structure and financing methods haven’t been decided, they said.