SEOUL, South Korea (AP) - Mobile messenger service Kakao Talk is seeking a backdoor listing on South Korea's stock exchange by combining with the country's second largest Internet portal.

SEOUL, South Korea (AP) Mobile messenger service Kakao Talk is seeking a backdoor listing on South Korea's stock exchange by combining with the country's second largest Internet portal.

Daum and Kakao said Monday that Kakao shareholders will get 1.556 Daum shares for every Kakao share they own.

Kakao Talk is South Korea's most popular mobile messaging service for smartphones. But it has struggled in overseas markets dominated by other mobile apps such as WhatsApp, Line and WeChat.

Daum's web portal has been a perennial runner-up to Naver, which dominates the South Korea's Internet market.

Naver also owns Line, a popular mobile messaging service in Asia.