Naver Shares Surge on Reports of Top Crypto Exchange Takeover

Naver Corp. shares jumped as much as 11% after a report that the company’s fintech unit is pursuing a takeover of the operator of South Korea’s biggest crypto exchange.

Internet giant Naver’s fintech arm and Dunamu Inc., which runs the crypto exchange Upbit, are in talks over potential collaborations, including a share swap, that go beyond stablecoins and unlisted-share trading, though no agreements have been finalized, Naver said in a regulatory filing.

Dunamusaid in a text message it’s discussing cooperation with Naver while stressing no forms of cooperation has been finalized.

The clarification comes after South Korean daily ...