Electronics Production | June 26, 2012

Sharp won't sell more stakes to Hon Hai

Sharp’s president, Takashi Okuda, has told shareholders the company does not plan to sell Hon Hai more shares.
Speaking at the annual shareholders meeting, Okuda said the company will not sell more shares to Hon Hai, according to Reuters. The comments were made despite Hon Hai chairman Terry Gou reportedly saying last week that the company was in discussions to increase its stakes in Sharp.

Hon Hai has already to agree to purchase 840 million USD, allowing the company a 11 percent stake. The company is also buying 46.48 percent of Sharp’s Sakai LCD plant in Japan.


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