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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  Naver Corp    A035420   KR7035420009

NAVER CORP

(A035420)
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SoftBank's Z Holdings and Line eyeing merger - sources

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11/13/2019 | 11:11am EST
FILE PHOTO: SoftBank Corp. placard is prepared during a ceremony to mark the company's debut on the Tokyo Stock Exchange in Tokyo

SoftBank's Z Holdings Corp is in talks to merge with messaging app operator Line Corp, two sources said on Wednesday, the investment company's latest bet on a struggling tech firm.

A deal could see SoftBank Corp, which controls internet firm Z Holdings, and Line's parent Naver Corp form a 50:50 venture that would control Z Holdings, which would in turn operate Line and Yahoo, the sources said.

The two parties were likely to reach a basic agreement by the end of the month, the sources said.

Naver was not immediately available for comment outside of business hours. SoftBank said nothing had been decided.

The talks were first reported by Kyodo news agency.

Line, which last year sold a majority stake in its mobile unit to SoftBank, has reported three consecutive quarters of operating losses as the company tries to jump start growth.

Z Holdings, formerly known as Yahoo Japan, made a move in September to take control of fashion e-tailer Zozo Inc in a $3.7 billion deal, as it bulks up against rivals like Amazon.com.

Dealmaking by SoftBank Corp, controlled by tech conglomerate SoftBank Group Corp, comes despite weak performance of its technology bets of its parent, which recorded an $8.9 billion operating loss in the second quarter.

The group's first quarterly loss in 14 years followed a collapse in the value of its investment in office-sharing firm WeWork as investors have turned sceptical about the path to profitability at cash burning startups.

(Additional reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel and Edmund Blair)

By Noriyuki Hirata and Sam Nussey

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM 0.64% 1751.6 Delayed Quote.16.62%
LINE CORPORATION 0.00% 5120 End-of-day quote.38.19%
NAVER CORP End-of-day quote.
SOFTBANK CORP End-of-day quote.
Z HOLDINGS CORPORATION -0.26% 379 End-of-day quote.42.48%
ZOZO, INC. 0.42% 2159 End-of-day quote.9.26%
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Financials (KRW)
Sales 2019 6 597 B
EBIT 2019 787 B
Net income 2019 497 B
Finance 2019 2 803 B
Yield 2019 0,19%
P/E ratio 2019 56,8x
P/E ratio 2020 34,4x
EV / Sales2019 3 836x
EV / Sales2020 3 323x
Capitalization 25 308 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Average target price 205 310,34  KRW
Last Close Price 174 000,00  KRW
Spread / Highest target 39,1%
Spread / Average Target 18,0%
Spread / Lowest Target -13,8%
EPS Revisions
Managers
NameTitle
Seong-Sook Han Chief Executive Officer & Director
In-Hyeok Choi Chief Operating Officer & Director
Sang-Jin Park Chief Financial Officer
Yu-Hoon Kang Head-Technology
Hae-Jin Lee Director & Global Investment Officer
Sector and Competitors
1st jan.Capitalization (M$)
NAVER CORP21 291
ALPHABET28.18%924 183
BAIDU, INC.-26.95%40 142
Z HOLDINGS CORPORATION42.48%16 604
YANDEX47.93%13 299
SOGOU INC.-6.10%1 929