SoftBank's Z Holdings sees Line merger slipping beyond October
Reuters
Published Jun 30, 2020 02:42AM ET
Updated Jun 30, 2020 03:55AM ET
TOKYO (Reuters) - SoftBank's Z Holdings Corp (T:4689) said on Tuesday the closure of its merger with messaging app operator Line Corp (T:3938) will be later than October as previously stated due to regulatory approval being delayed by the coronavirus outbreak.
Internet firm Z Holdings, formerly known as Yahoo Japan, said there no major issues affecting the deal, with the delay causing timing for a joint tender offer to slip beyond May to June.
SoftBank announced the deal last November - part of a wave of consolidation at internet firms in Japan combining to face down the threat from U.S. and Chinese rivals.
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Written By: Reuters
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