Bestec loses out on investment from Foxconn JV

Ampower Holding, a joint-venture of Chi Mei Optoelectronics and EMS-provider Foxconn, is not pursuing an investment in Taiwan-based Bestec Power Electronics. The Memorandum of Understanding (MoU) was revoked. Ampower believes that a convertible bond issue will affect the final stake in Bestec after the investment is made. Bestec will consider further legal action, writes DigiTimes.