- SoftBank Group Corp. and South Korean search group Naver Corp. announced a joint venture aimed at creating a Japanese internet champion to take on global giants such as Facebook, Google, and Amazon.com. (BN) An SEC document for the deal lists Cleary Gottlieb Steen & Hamilton advising Naver, and Simpson Thacher & Bartlett advising SoftBank. (Securities and Exchange Commission) The complex deal, which requires Japanese regulatory approval, calls for combining Softbank’s Yahoo Japan internet business with messaging app Line Corp., which is 73% owned by Naver, into an approximately $30 billion company. (Financial Times)
- Cooley ...
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