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Line Corp received no stake purchase offer from SoftBank: Line COO
February 26, 2014 / 6:10 AM / 4 years ago

Line Corp received no stake purchase offer from SoftBank: Line COO

TOKYO (Reuters) - Line Corp, a Japan-based mobile messaging service operator, has not received an offer for a stake purchase from SoftBank Corp, the company’s chief operating officer said on Wednesday.

Takeshi Idezawa, chief operating officer of Line Corp, attends an announcement of its new service in Tokyo February 26, 2014. REUTERS/Yuya Shino

Shares in SoftBank and in Line’s South Korean parent company, Naver Corp, surged on Tuesday after a Bloomberg News report that SoftBank and Line had held talks on a stake sale. Line and Naver both denied that talks had taken place.

Line COO Takeshi Idezawa also told a new product briefing that Line users in the United States and Europe had increased since last week’s news of Facebook Inc’s $19 billion deal to buy WhatsApp.

Reporting by Reiji Murai; Writing by Edmund Klamann; Editing by Dominic Lau

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