Feeds

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

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

New hybrid storage solutions

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. ®

New hybrid storage solutions

More from The Register

next story
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
Alibaba swings a large one with STONKING IPO legal bills
Chinese e-commerce beast searches for $21bn from investors
EMC has nothing to say on VMware sale plan
Rumour and counter-rumour swirl around Wall Street
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.