Yahoo Japan operator Z Holdings Corp. and Line Corp. said Monday they have reached a basic merger agreement that will forge an internet conglomerate boasting over 100 million users in Japan with the aim of challenging U.S. and Chinese online behemoths.
¡°In the internet market, overseas companies, especially those based in the United States and China, are overwhelmingly dominant,¡± the two firms said in a statement.
¡°Even when comparing the size of operations, there is currently a big difference between such overseas companies and those in Japan and other Asian countries, other than China.¡±
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