SoftBank Group to take majority stake in Line's mobile unit

Reuters News
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Posted: Jan 31, 2018 2:04 AM

TOKYO (Reuters) - Line Corp said on Wednesday that it had entered an agreement with SoftBank Group Corp to give the telecoms and technology firm a majority stake in Line's mobile unit.

Line said SoftBank would hold a 51 percent stake in the mobile business after the issuance of new shares, with Line holding the remaining 49 percent.

(Reporting by Sam Nussey)