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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] SoftBank has announced that it is in discussions with Naver regarding a review of its stake in Line Yahoo, but they have not yet reached an agreement. SoftBank CEO Junichi Miyakawa stated at the shareholders' meeting on the 20th that they are continuing discussions with Naver from the perspectives of security governance and business strategy, in response to Line Yahoo's request. He added that although they have not reached an agreement at this point, they want to do what is possible for the future of Line Yahoo and emphasized their ongoing dialogue with Naver, noting that the timing for reaching an agreement cannot be clearly specified now.
Currently, SoftBank holds 50% of A Holdings, which is a major shareholder of both Naver and Line Yahoo. It is expected that the action report to be submitted to the Japanese authorities by Line Yahoo by July 1 will not include details regarding stake sales, but both parties plan to keep all possibilities open and continue negotiations.
Recently, Line Yahoo announced the gradual discontinuation of the Line Pay service, affiliated with Naver Line, in Japan by April 30 next year. While local services will continue in Thailand and Taiwan, Line Pay within Japan will be integrated into SoftBank's PayPay, a mobile payment service operated by SoftBank.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
