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Business deals

South Korea gives Yahoo Japan-Line merger talks a warm reception

Chat app parent Naver's shares surge as investors put profits over politics

The Line business generated about 35% of Naver's sales in 2018.   © Reuters

SEOUL -- The proposed union of Yahoo Japan and the Line messaging app has received a warm welcome from investors in South Korea, home to Line's parent Naver.

Naver's stock rose sharply on Thursday, after Nikkei reported that the company is in the final stages of negotiations with Z Holdings, the SoftBank Group-owned parent of Yahoo's Japanese sites. Naver jumped more than 12% from its close on Wednesday.

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