News Formal

SoftBank to create US$30 billion tech giant with Yahoo Japan, Line Corp merger

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 66%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Japan's SoftBank Corp plans to merge internet unit Yahoo Japan with messaging app operator Line Corp to create a US$30 billion tech giant, as it ...

TOKYO: Japan's SoftBank Corp plans to merge internet unit Yahoo Japan with messaging app operator Line Corp to create a US$30 billion tech giant, as it bags struggling internet companies to bulk up against rivals like Rakuten Inc .

SoftBank Corp and Naver, which owns 73per cent of money-losing Line, plan to launch a tender offer for Line's remaining shares at 5,200 yen each - a 13.4per cent premium to the shares' price before news of the merger broke. Line's shares were up 2.6per cent at 5,180 yen in early Tokyo trade on Monday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SoftBank's Yahoo Japan, Line Corp announce mergerJapanese telco SoftBank Corp on Monday announced plans to merge its internet unit Yahoo Japan with messaging app operator Line Corp as it scoops ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Trump asked Tokyo for US$8b to keep US troops in Japan: sourcesWashington wants Tokyo to increase annual payments for the 54,000 US troops in Japan to around US$8 billion from about US$2 billion, Foreign Policy said, citing three unnamed former defence officials.
Source: BusinessTimes - 🏆 15. / 51 Read more »