Yahoo Japan Owner, Line Mull Merger
Tokyo, Nov. 13 (Jiji Press)--Yahoo Japan owner Z Holdings Corp. <4689> and free messaging app provider Line Corp. <3938> are considering merging operations, informed sources said Wednesday.
The two sides aim to strengthen operations by using each other's customer base and technologies, the sources said. They hope to reach agreement on the deal by the end of this month, the sources said.
One option under consideration is for Z Holdings parent Softbank Corp. <9434> and South Korea's Naver Corp., the parent of Line, to set up a joint company that would own Z Holdings, which in turn would take full control of Yahoo and Line, the sources said.
Line has over 80 million users. Yahoo, which offers search, online shopping and financial services, has more than 50 million users. The merger will create an internet service giant with over 100 million users.
Softbank is the telecommunications arm of Softbank Group Corp. <9984>.
[Copyright The Jiji Press, Ltd.]