Livedoor Co. stock surged 13 percent Wednesday on news that it is negotiating a capital and business tieup with Fuji Television Network Inc.
Livedoor shares rose for the first time in four trading days, ending 38 yen higher at 331 yen.
On Tuesday, shares of the Internet firm fell to an all-time low of 292 yen. The stock is listed on the Tokyo Stock Exchange’s Mothers market.
Fuji TV, listed on the TSE’s first section, gained 4,000 yen to 244,000 yen.
Nippon Broadcasting System Inc., in which Livedoor acquired a majority stake in a bitter takeover battle with Fuji TV, was also bullish throughout the day.
The radio broadcaster’s stock, traded on the second section of the bourse, ended 360 yen higher at 6,080 yen.
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