Sharp, Foxconn to continue talks as deadline sails by - CNET
Summary
The deadline has passed for Sharp and Foxconn to agree on investment terms, but the companies apparently are still trying to resolve their differences. A one-year deadline was set to give both companies time to reach an agreement on a potential investment that would save Japan-based Sharp, which is in difficult financial straits. Although no agreement is expected to come any time soon, reports earlier this month suggested that Foxconn Chairman Terry Gou would still consider investing in the television set maker once Sharp created a new business plan. Originally, Foxconn wanted to acquire a 9.9 percent stake in the Japanese firm for 66.9 billion yen ($709 million), but wished to pay less as Sharps stock prices continued to plummet this year. In addition, South Korean smartphone and tablet maker Samsung is investing $111 million for a 3 percent stake in the Japanese firm in order to "build up mutual trust" in the liquid crystal display business as well as keep Sharp afloat.
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