Yahoo Japan Parent's Merger with Line to Be Delayed

Economy Politics

Tokyo, June 30 (Jiji Press)--Z Holdings Corp. <4689>, the parent of Yahoo Japan Corp., and Line Corp. <3938> said on Tuesday that their planned business integration will be delayed.

The delay in the merger, initially scheduled to be completed in October, resulted from deferred procedures to review the deal in some countries due to the effects of the novel coronavirus pandemic, the two sides said.

In December last year, Z Holdings and Line announced their final agreement to merge their business operations.

The two sides are in a complementary relationship, as Yahoo runs an internet portal while Line is a free messaging app provider. They, however, offer similar services such as online shopping in some areas.

As the merger will expand their market share in the overlapping business areas, the deal must be approved by the Fair Trade Commission and other antitrust watchdogs around the world.

[Copyright The Jiji Press, Ltd.]

Jiji Press