TOKYO - SoftBank's Yahoo Japan is in talks to merge with messaging app operator Line Corp to create a US$27 billion tech giant and help the Japanese conglomerate expand e-commerce and payments services.
Sources told Reuters on Wednesday that a deal was likely by month-end and could see SoftBank and Line's parent, Naver, form a 50/50 venture that would control Z Holdings, which would in turn operate Line and Yahoo. Those services are money-losing, with Line- which last year sold a majority stake in its mobile unit to SoftBank - reporting three consecutive quarters of operating losses as it tries to jump-start growth.
Separately on Thursday, Z Holdings said it had acquired 50.1 per cent of fashion e-tailer Zozo in a US$3.7 billion deal announced in September, as it bulks up against rivals such as Amazon.com.
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