line-and-softbank’s-z-holdings-to-merge:-nikkei

Line and SoftBank’s Z Holdings to merge: Nikkei

Tech

(Reuters) – Japanese internet firm Z Holdings Corp (4689.T) and messaging app operator Line Corp (3938.T) 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