Electronics Production | August 06, 2012
Foxconn to renegotiate Sharp deal
Hon Hai Precision Industry has announced it will renegotiate the price of its planned stake in Sharp Corp.
Hon Hai and it's subsidary Foxconn both fell dramatically after Sharp's stock dropped 28 percent on Aug 3 in Japan. Following local media reports, Foxconn reiterated that it plans to go ahead with an investment of 9.9 percent in Sharp, but at a renegotiated price. The company initially commented on August 3 but made a further announcement on the Taiwan stock exchange today. The original price for the deal was 550 yen per share.