South Korea's NHN to buy Japan's Livedoor: Nikkei

TOKYO (Reuters) - NHN Corp 035420.KS, South Korea's top Internet portal and Web search service, will buy Japanese Internet portal Livedoor Co. for about $74 million, the Nikkei business daily reported on Saturday.

Livedoor, which runs a portal site attracting 30 million users a month and a popular blog service, was put up for sale by LDH Corp and had drawn interest from South Korean Internet firms and investment funds, according to media reports.

LDH Corp was formerly called Livedoor Holdings, which was delisted in 2006 in the wake of an accounting scandal.

LDH launched the final round of bidding for Livedoor Co last month and has decided to sell the business to NHN, for about 7 billion yen ($74 million) after an investment fund dropped out, the Nikkei newspaper reported.

No one at LDH could be reached for comment.

Livedoor Co booked an operating profit of 1 billion yen on sales of 9.3 billion yen in the year ended Sept, the Nikkei said.

NHN, which established a subsidiary in Japan in 2000 and has been developing online games for the local market, aims to use the Livedoor business to help drive its growth in Japan, the Nikkei said.