Naver Shares Surge on Tie-Up Talks With Top Crypto Exchange (1)

Naver Corp.’s fintech arm and Dunamu Inc., operator of South Korea’s largest crypto exchange Upbit, said they are in collaboration talks after Naver shares surged 11% on a report that the two companies are discussing a potential merger.

Naver said in a regulatory filing that discussions cover a range of areas, including a possible share swap, but stressed no agreements have been reached, while Dunamu said in a text message that it is exploring cooperation with Naver but that nothing has been finalized.

A tie-up between Naver and Dunamu would mark one of the most significant convergences yet between ...