Great World Co.Holdings Ltd. said July 20 that it is in negotiations with vendors toextend a memorandum of understanding for the possible acquisition of an online travelbusiness.

In May, the iron ore miner entered into a two-month, with the vendors forthe acquisition of online travel agent company JiaQi Network Holdings Ltd. by awholly owned company subsidiary, Field Source Capital Resources Ltd.

Great World noted that discussions are ongoing and the partieshave yet to reach an agreement.

The term expired July 20, according to the MOU.