Ron Burgundy Posted March 21, 2016 Share Posted March 21, 2016 Taiwan's Foxconn is likely to reduce its capital injection into embattled Japanese electronics firm Sharp Corp by around 100 billion yen ($898 million), from an initial plan of 489 billion yen, Japan's Jiji News reported on Monday. Last month, Sharp said it would issue around $4.4 billion worth of new shares to give Foxconn a two-thirds stake, but the Taiwanese electronics company put its takeover bid on hold at the last minute due to what sources said was the discovery of previously undisclosed liabilities. Foxconn is reviewing the bid given concerns about future losses as well as on deterioration in Sharp's earnings in the financial year to March 31, Jiji reported. View the full article Quote Link to comment Share on other sites More sharing options...
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