Foxconn back in take over rumours

Foxconn has been pointed out to take over the stake that now will be sold by resigning president Michael Wang at Quanta Computer. Quanta Computer president Michael Wang, who said earlier this week that he has offered his resignation for personal reasons, plans to release 3.5 million shares, or 42.3%, of his holdings in Quanta, according to data available at the Taiwan Stock Exchange (TSE) amid growing market rumours stating that Foxconn Electronics would eventually merge with Quanta through an acquisition deal, said the market sources. Foxconn has also been named as a buyer of CMC Magnetics but that acquisition has now been denied by the touch panel maker's management.