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Wednesday, November 13, 2019

SoftBank's Z Holdings says in merger talks with line

TOKYO (Reuters) - Japanese Internet firm Z Holdings (T:4689), the SoftBank-owned operator of Yahoo (NASDAQ:AABA) Japan, said on Thursday it was in talks to merge with messaging app operator Line Corp (T:3938).

Sources told Reuters the previous day a deal could see SoftBank Corp (T:9434), which controls Z Holdings, and Line's parent Naver Corp (KS:035420) 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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