Japan's Sharp to suspend tie-up talks with Taiwan's Hon Hai: Report
TOKYO (AFP) - Struggling Japanese electronics maker Sharp plans to suspend tie-up negotiations with Taiwan's Hon Hai and search for new capital partners, local media reported on Saturday.
Cash-strapped Sharp had been trying to seal a capital-injection deal with Hon Hai Precision, also known as Foxconn, by a March 26 deadline.
But Sharp said it would be "difficult to conclude the deal by the deadline due to various factors, including different opinions on cooperation in the field of small- and mid-sized LCDs", the Mainichi Shimbun said.
The recent decline in Sharp's share value was another factor behind the suspension, the daily added. It was not known if the suspension was permanent but Sharp would now shift its focus to other companies, the newspaper said.