Japan's SoftBank Corp plans to merge internet unit Yahoo Japan with messaging app operator Line Corp to create a $30 billion tech giant, as it strives better compete to with local rival Rakuten and US tech powerhouses.

SoftBank to create $30 billion tech giant with Yahoo Japan, Line Corp merger

SoftBank Corp shares slumped more than 10 per cent in their debut on Wednesday, as investor appetite for Japan's biggest ever IPO was hurt by a recent major service outage and worries over its exposure to Chinese telecom gear maker Huawei.

SoftBank Corp shares slide 10% on debut after record Japan IPO

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SoftBank to create $30 billion tech giant with Yahoo Japan, Line Corp merger

SoftBank Corp shares slide 10% on debut after record Japan IPO