Yahoo via flickr
One of Japan's leading Internet companies, Yahoo! Japan, co-owned by SoftBank, has confirmed that it is negotiating a merger with the Line application operator. The $ 27 billion deal will add another technological gem to SoftBank’s portfolio, which is currently undergoing a major revision.
According to CNBC, Yahoo! Japan, which changed its name to Z Holdings last month, explained that negotiations with Line are ongoing, but nothing has been decided yet. However, this information clearly encouraged investors. Shares of Z Holdings, whose market value was about $ 17 billion at the close on Wednesday, jumped 16% on Thursday.
According to Reuters, the deal is likely to take place at the end of the month and could lead to SoftBank and parent company Line Naver creating a joint venture with a 50/50 share distribution, which will be controlled by Z Holdings, and it, in turn, will manage Line and Yahoo!
It is important that the deal under discussion will unite the operators of the two largest QR payment applications in Japan, and the country is just actively switching to cashless payments. SoftBank’s PayPay recently attracted 19 million users through aggressive marketing, while Line Pay could attract 82 million Japanese users of Line.
Line, which sold a majority stake in its mobile division SoftBank last year, reported operating losses for three quarters due to the company’s attempt to accelerate growth of its business.
source: cnbc.com
According to CNBC, Yahoo! Japan, which changed its name to Z Holdings last month, explained that negotiations with Line are ongoing, but nothing has been decided yet. However, this information clearly encouraged investors. Shares of Z Holdings, whose market value was about $ 17 billion at the close on Wednesday, jumped 16% on Thursday.
According to Reuters, the deal is likely to take place at the end of the month and could lead to SoftBank and parent company Line Naver creating a joint venture with a 50/50 share distribution, which will be controlled by Z Holdings, and it, in turn, will manage Line and Yahoo!
It is important that the deal under discussion will unite the operators of the two largest QR payment applications in Japan, and the country is just actively switching to cashless payments. SoftBank’s PayPay recently attracted 19 million users through aggressive marketing, while Line Pay could attract 82 million Japanese users of Line.
Line, which sold a majority stake in its mobile division SoftBank last year, reported operating losses for three quarters due to the company’s attempt to accelerate growth of its business.
source: cnbc.com
