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SoftBank's Yahoo Japan in merger talks with Line

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11/14/2019 | 10:50am EST

At close to 10 billion dollars Line Corp was the biggest tech IPO of the year - when it launched on the U.S. market in 2016.

It could be now be joining forces to form a tech giant worth - at a possible 27 billion dollars - nearly three times that.

Discussions are underway between the messaging app operator and Z Holdings - known until last month as Yahoo Japan.

The two would bring together Japan's biggest QR code payment apps

Combining a potential customer base of 100 million users.

If, at this point, Line's services are money-losing - and nothing has been decided, it said, regarding a merger.

For its part, Z Holdings - which is nearly half owned by Softbank Corp - also disclosed it's acquired a 50.1% stake ...

In fashion e-tailer Zozo - in a 3.7 billion dollar deal.

Markets though took their lift from the merger talks - driving Line's shares up by 15%.

And Z Holdings by nearly 17%.

Stocks mentioned in the article
ChangeLast1st jan.
LINE CORPORATION 0.59% 5150 End-of-day quote.39.00%
SOFTBANK GROUP CORP. 1.20% 4308 End-of-day quote.-38.50%
ZOZO, INC. -0.65% 2145 End-of-day quote.8.55%
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