Feeds

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

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

Top 5 reasons to deploy VMware with Tegile

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
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.