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Japan Internet merger
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ONLINE services Yahoo Japan and Line Corp have announced they are merging. Z Holdings Corp, which owns SoftBank Corp that operates Yahoo Japan, and Naver Corp of South Korea, which owns a majority stake in Line, said yesterday they are aiming for a final agreement by next month.
The combination in a joint venture through a tender offer will form an online giant with retail services, advertising and other mobile services such as messaging. The combined sales would be the largest among Japanese online business operators, surpassing Rakuten Inc, according to Kyodo News service. The companies said combining forces will allow them to stay competitive.
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