Naver Stock Up 11% On Tie-Up Talks With Korean Crypto Exchange Giant Dunamu
Naver’s potential acquisition of Dunamu comes as cryptocurrency has made a comeback from a series of corporate collapses in 2022.
SeongJoon Cho/Bloomberg
Naver saw its shares surge 11.4% on Thursday following a filing from the South Korean internet giant that it’s in talks for a share swap with Dunamu, the operator of Upbit, the country’s largest crypto exchange.
In the filing, Naver said its payment arm Naver Financial is in talks with Dunamu about a stock swap deal, as well as collaborations on stablecoins and trading of unlisted securities. The search engine giant said no specific details have been finalized and that it will issue additional disclosure in a month. Local newspaper Dong-A Ilbo first reported the news about the…
