From the archive
SoftBank and NAVER reveal plans to merge Yahoo! Japan and LINE Corp.
Original source: www.neowin.net
In a press release posted today, SoftBank and NAVER Corporation announced an ongoing business integration agreement to merge their subsidiaries Z Holdings, otherwise known as Yahoo!
Japan, and LINE to create a new business group.
According to the agreement, SoftBank and NAVER will each have 50% ownership over the resulting jointly held companies.
Through further expanding this innovative model globally, SoftBank aims to be a leading company that is a driving force across Japan, Asia and worldwide.
According to the schedule disclosed in the press release, SoftBank, NAVER, Z Holdings, and LINE intend to enter a binding 'Definitive Agreement' by December 2019.