PayPay (PAYP), Japan's largest mobile payments platform, is in talks with parent SoftBank to acquire a stake worth several hundred billion yen in Seven & i Holdings through a potential new share issuance, Bloomberg reported Friday, citing unnamed sources familiar with the matter.
The report said Seven & i Holdings may issue new shares to SoftBank and PayPay, while Sumitomo Mitsui Card is also considering participating.
The companies are reportedly aiming to reach an agreement this summer, though talks remain ongoing and no deal is guaranteed.
PayPay, SoftBank and Seven & i Holdings did not immediately respond to MT Newswires' request for comment.
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