[DISCLOSURE]
Naver (035420) announced on Sept. 28 that its subsidiary LINE has decided to acquire 2.5 million shares newly issued by its wholly-owned Japanese subsidiary LINE Financial at 247.6 billion (US$223.12 million) “to expand into global financial business.”
LINE will own 4.5 million shares after the acquisition.
By Hwang You-mee (
glamazon@heraldcorp.com)