Korea’s NHN Buys Japanese Portal Livedoor For $68 Million
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Big news from the Asian Internet industry today: Korea’s web behemoth NHN has sealed a $68 million deal to acquire major Japanese Internet service provider Livedoor from parent company LDH Corp. (whose stakeholders include Morgan Stanley and Goldman Sachs). LDH also plans to pay a dividend of $32 million ahead of its sale to NHN.
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I find this very interesting and very unexpected.