Airbnb 'to buy' home-rental firm Xiaozhu

Airbnb Inc is in talks to acquire Xiaozhu.com to expand in China's home rental sharing market, according to a person familiar with the matter.

The companies have held multiple meetings and the discussions are advanced in nature, the person said, asking not to be identified because the talks are private. A deal is likely, the person said.

Airbnb and Xiaozhu declined to comment.