From the archive
Line, Yahoo Japan in merger talks
Original source: www.upi.com
Photo by John Angelillo/UPI | License PhotoSEOUL, Nov. 15 (UPI) -- Messaging app Line is in talks to merge with Yahoo Japan, the two companies said.
Line is held by Korea's Internet giant Naver, while Yahoo Japan is owned by Japanese telecom firm SoftBank.
SoftBank controls Z Holdings, which is valued about $17 billion and owns Yahoo Japan, while Line has a stock market value of about $10 billion.
Line runs one of the most popular messaging apps in Japan, with more than 80 million users.
Investors positively regarded the merger talks as shares in Z Holdings soared 17 percent on Thursday, while those of Line also jumped 15 percent.