Naver Line Acquires Z Holdings Shares Worth 7.8 Trillion KRW

[Asia Economy Reporter Han Jinju] Naver's subsidiary Line announced on the 20th that it will acquire 2,125,369,500 shares of Z Holdings, an online service company and a subsidiary of Japan's SoftBank, for approximately 7.8458 trillion KRW. After the acquisition, the shareholding ratio will be 44.6%. The scheduled date for the stock acquisition is the 26th of next month.

Naver stated, "As part of the management integration process of Line, SoftBank, and Z Holdings, Shiodome Z Holdings has decided to purchase all shares of Z Holdings it holds through a public tender offer," according to the announcement.