SoftBank's Yahoo Japan in merger talks with Line, shares jump [Reuters]
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Source: Reuters
SoftBank's Yahoo Japan in merger talks with Line, shares jump TOKYO (Reuters) - SoftBank’s Yahoo Japan is in talks to merge with messaging app operator Line Corp ( 3938.T ) to create a $27 billion tech giant and help the Japanese conglomerate expand e-commerce and payments services. Yahoo Japan, which last month changed its name to Z Holdings ( 4689.T ), said on Thursday discussions were underway with Line but nothing had been decided. SoftBank Corp ( 9434.T ), which owns almost half of Z Holdings, also acknowledged the talks. Shares in Z Holdings, which had a stock market value of about $17 billion at Wednesday’s close, jumped 17%. Shares in Line, which is valued at about $10 billion, closed up 15%. Sources told Reuters on Wednesday a deal was likely by month-end and could see SoftBank Corp and Line’s parent Naver Corp ( 035420.KS ) form a 50/50 venture that would control Z Holdings, which would in turn operate Line and Yahoo. Line said in a statement it was considering ways
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