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Business deals

Yahoo Japan to merge with Naver's Line app

Deal sought this month on Japanese-Korean joint venture to own both companies

The new company -- a merger between Yahoo Japan and Line -- will have a combined user base totaling 100 million people, becoming the dominant mobile payment service provider in Japan.

TOKYO -- The operators of Yahoo sites in Japan and popular messaging app Line seek to merge into an internet group that spans finance, retail and other services, Nikkei has learned.

SoftBank Group, which owns 45% of Yahoo Japan parent Z Holdings, and South Korea's Naver, which owns 73% of Line, are in the final stage of negotiations, sources said. They aim to reach a basic agreement by the end of the month.

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