Japan's Line Corp denies in talks to sell stake to SoftBank

TOKYO Mon Feb 24, 2014 10:36pm EST

TOKYO Feb 25 (Reuters) - Japanese messaging app owner Line Corp denied a media report that the company was in discussions to sell a stake to SoftBank Corp on Tuesday.

"There is no truth to the matter," a spokeswoman for the company said. A Line executive, who declined to be identified, also denied the report.

The denials followed a report from Bloomberg News earlier on Tuesday that SoftBank's founder and CEO, billionaire Masayoshi Son, has held talks with Line about a purchase.

Line's parent South Korea's Naver Corp also denied the reports. A SoftBank spokesman said the company could not immediately comment. (Reporting by Reiji Murai; Editing by Edwina Gibbs)