TOKYO (Reuters) – Japanese Internet firm Z Holdings (T:), the SoftBank-owned operator of Yahoo (NASDAQ:) Japan, said on Thursday it was in talks to merge with messaging app operator Line Corp (T:).
Sources told Reuters the previous day a deal could see SoftBank Corp (T:), which controls Z Holdings, and Line’s parent Naver Corp (KS:) form a 50/50 venture. The venture would control Z Holdings, which would in turn operate Line and Yahoo, the sources said.
Z Holdings said in a statement to the Tokyo Stock Exchange that discussions were underway but nothing had been decided.
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