2024-05-15 14:56:58
“The Japanese authorities additionally revealed that it’s not about administration rights.”
Naver: “Nothing has been determined but.”
The President’s Workplace introduced on the 14th that Line Yahoo‘s report on administrative steering measures to be submitted to the Japanese Ministry of Inner Affairs and Communications by July 1 is not going to include data associated to the sale of shares in Naver.
Because the opposition celebration intensified its anti-Japanese offensive in response to the controversy surrounding the Japanese authorities’s administrative steering on the sale of Line Yahoo’s shares to Naver, the President’s Workplace interpreted the scenario as being over as the opportunity of a stake sale following administrative steering turned much less possible. Nevertheless, after submitting the report, there’s a chance that Naver could select to promote its shares relying on the administration judgment of the non-public firm.
An official from the Presidential Workplace mentioned, “Line Yahoo has confirmed from Naver that it’ll not embody the sale of its stake within the administrative steering measure report scheduled to be submitted to the Japanese authorities by July 1.” He added, “At the least, Naver is unlikely to promote its stake as a consequence of stress from the Japanese authorities.” “It means there’s none,” he mentioned. Seong Tae-yoon, Director of the Presidential Coverage Workplace, defined, “The Japanese authorities has additionally acknowledged a number of occasions that this administrative steering doesn’t embody any expression of stake sale and isn’t a reference to administration rights.”
As well as, Director Seong warned, “If measures to strengthen data safety (in response to the Line private data leak incident final yr) are submitted, the Japanese authorities ought to by no means take unfavorable measures that go towards Naver’s needs concerning capital construction.” did. Director Seong repeatedly emphasised, “We are going to present adequate assist to Naver.” He emphasised that the Japanese authorities mustn’t take unfair measures even when the stake sale particulars should not included within the report. Naver and Softbank every personal a 50% stake in A Holdings, the holding firm of Line Yahoo.
Whereas the opposition celebration has stepped up its anti-Japanese offensive within the wake of Japan’s administrative steering, President Yoon Seok-yeol is claimed to have lately criticized it, saying, ‘It’s not the time to pursue anti-Japanese actions.’ A high-ranking official within the Presidential Workplace identified, “Is it useful to place an unhelpful political body on the difficulty of a transaction value over 10 trillion gained?”
Naver mentioned, “Nothing has been determined but on whether or not to promote Line Yahoo shares.” A Naver official mentioned, “There’s a chance that the continued negotiations between Naver and Softbank is not going to be accomplished till July. If this occurs, Line Yahoo won’t be able to incorporate the stake sale within the report it’s going to undergo the Japanese authorities.” In the meantime, as the workers of Line Plus, a subsidiary of Line Yahoo, had been shaken by this incident, CEO Eun-jung Lee personally started a dialog with the workers.
Reporter Lee Sang-heon [email protected]
Reporter Kim Ha-kyung [email protected]
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2024-05-15 14:56:58