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Line and SoftBank's Z Holdings to merge - Nikkei

Line and SoftBank's Z Holdings to merge - Nikkei
FILE PHOTO: SoftBank Corp. placard is prepared during a ceremony to mark the company's debut on the Tokyo Stock Exchange in Tokyo, Japan December 19, 2018. REUTERS/Issei Kato -
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Issei Kato(Reuters)
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(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 towards 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)

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