Yahoo Japan and Line Corp affirm merger agreement
SoftBank Corp declared today that it has agreed to converge with Z Holdings (the SoftBank auxiliary some time ago known as Yahoo Japan) and Line Corp, in a move they expectation will better position them against contenders. The merger, which was first announced by Nikkei a week ago, is required to be finished in October 2020.
SoftBank and Naver, the proprietor of Line, will each hold half of another holding company that will work Line and Z Holdings. By joining together, SoftBank and Naver trust that they will better position search entry Yahoo Japan, Line's informing application and their different businesses to contend with rivals from the United States and China.
In its declaration, SoftBank said "in the Internet market, overseas companies, especially those based in the United States ...