SoftBank to create Japan internet rival to take on GAFA tech giants
Masayoshi Son plans to combine SoftBank’s Yahoo Japan internet business with Line
18 November 2019 - 20:48
Tokyo — Masayoshi Son, after backing start-ups around the world, is engineering a complex deal on his home turf to create a national champion that can more effectively compete with global rivals such as Google and Amazon.com.
Son’s SoftBank Group plans to combine its Yahoo Japan internet business with Line Corporation in a deal that values the country’s leading messaging service at $11.5bn. SoftBank and South Korea’s Naver will take Line private and then fold Line and Yahoo Japan into a new joint venture. The deal requires shareholder approvals and is scheduled to close by October 2020...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.