Feeds

Foxconn daddy's cheap Sharp stake slurp still news to Sharp

Hon Hai to announce deal breakthrough despite TV biz's protests

Build a business case: developing custom apps

Foxconn parent Hon Hai is drawing up a joint statement on its deal to buy a cheaper stake in Sharp this month, although Sharp is still insisting there's no need for any renegotiation.

Taiwanese Hon Hai told Reuters that the two firms were working to agree on a "better version" of the March deal, when Hon Hai agreed to pay ¥66.9bn (£547m, $853.8m) for a 9.9 per cent share of Sharp and another ¥66bn (£539.58m, $842.3m) for a 46.5 per cent slice in Sharp's joint venture telly business with Sony.

Since then, Sharp's shares have been falling and Hon Hai now wants to pay a lower price for the same stakes.

After Sharp announced a billion-yen net loss for the second quarter and its stocks started to slide, Hon Hai said that the pair had agreed to change the deal. But monitor biz Sharp said at the time that the deal was going ahead as it was.

Sharp is telling the same story today and said it hadn't said anything about releasing any press statement.

Taiwan's government has to approve the deal, as it does with all outbound investment, and yesterday it returned the application to Hon Hai looking for more details. ®

5 things you didn’t know about cloud backup

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.