Shareholders of Yahoo Japan Parent OK Integration with Line

Economy

Tokyo, March 17 (Jiji Press)--Shareholders of Z Holdings Corp. <4689>, the parent of internet portal Yahoo Japan Corp., on Tuesday approved its planned business integration with free messaging app provider Line Corp. <3938>.

Two proposals were approved by majority votes at an extraordinary general meeting of Z Holdings shareholders held in Tokyo, including an equity swap deal for the company to make Line a wholly owned subsidiary.

Z holdings and Line aim to complete the business integration in October, after a general meeting of Line shareholders in September.

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