Korean internet giant Naver moves closer to merger with crypto exchange heavyweight Upbit – DL News
- Deal will see Upbit operator Dunamu become a Naver Financial subsidiary.
- Press conference slated for November 27, Naver and Dunamu CEOs set to face media.
- Naver posted net revenues of $7.3 billion last year.
Naver, South Korea’s answer to Google, has moved closer to a deal that will see it snap up Upbit, the country’s biggest crypto exchange.
Naver and its financial subsidiary Naver Financial plan to hold board meetings on November 26 to confirm a stock swap deal with Dumau, the Upbit operator.
But the boards’ decisions appear to be a fait accompli, the South Korean news agency Yonhap reported, quoting anonymous sources close to the deal.
And Naver founder and chair Lee Hae-jin is scheduled to “personally explain” the merger plan…
