November 13, 2019 / 11:23 PM / a month ago

SoftBank's Z Holdings says in merger talks with line

TOKYO, Nov 14 (Reuters) - Japanese Internet firm Z Holdings , the SoftBank-owned operator of Yahoo Japan, said on Thursday it was in talks to merge with messaging app operator Line Corp.

Sources told Reuters the previous day a deal could see SoftBank Corp, which controls Z Holdings, and Line’s parent Naver Corp form a 50/50 venture. The venture would control Z Holdings, which would in turn operate Line and Yahoo, the sources said.

Z Holdings said in a statement to the Tokyo Stock Exchange that discussions were underway but nothing had been decided.

Reporting by Chris Gallagher Editing by Chris Reese

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