Daum Communications says to merge with Kakao Corp

SEOUL Sun May 25, 2014 7:01pm EDT

SEOUL May 26 (Reuters) - South Korean portal operator Daum Communications said on Monday that it plans to merge with mobile messenger service provider Kakao Corp in October to beef up core businesses and create synergies.

The merge ratio will be 1:1.5557456 for Daum and Kakao Corp, Daum said in a regulatory filing. (Reporting By Hyunjoo Jin and Sohee Kim; Editing by Andrea Ricci)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

A tourist takes a plunge as she swims at Ngapali Beach, a popular tourist site, in the Thandwe township of the Rakhine state, October 6, 2013. Picture taken October 6, 2013. REUTERS/Soe Zeya Tun (MYANMAR - Tags: SOCIETY) - RTR3FOI0

Where do you want to go?

We look at when to take trips, budget considerations and the popularity of multigenerational family travel.   Video