November 13, 2019 / 2:06 PM / a month ago

Line and SoftBank's Z Holdings to merge - Nikkei

Nov 13 (Reuters) - Japanese internet firm Z Holdings Corp and messaging app operator Line Corp are set to merge, aiming to create an e-commerce giant spanning finance, retail and other services, the Nikkei business daily reported on Wednesday.

SoftBank, which controls Z Holdings, and South Korea's Naver, which owns Line, are in the final stage of negotiations toward their units' integration, the report said, citing sources.

Z Holdings, formerly known as Yahoo Japan, and Naver did not immediately respond to Reuters' requests for comment. (Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel)

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