SoftBank’s Z Holdings says in merger talks with line

SoftBank’s Z Holdings says in merger talks with line

FILE PHOTO: The logo of Line Corp is seen at the company’s headquarters in Tokyo, Japan, January 25, 2017. REUTERS/Toru Hanai

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

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

Reporting by Chris Gallagher; Editing by Chris Reese

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