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September 20, 2017

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Hon Hai declines to comment on Sharp collaboration report

Hon Hai Precision yesterday declined to comment on a wire report that Sharp plans to work with the contract electronic manufacturing giant on smartphones and flat panels.

According to the Bloomberg report, Sharp said it would still be willing to work with Hon Hai even if it did not get its funding in the end.

Sharp also plans to collaborate with Hon Hai on smartphones and flat panels, the report said.

According to the report on Sept. 28, which cited a high-ranking Sharp official, the company and Hon Hai are still engaged in talks on funding, and the talks are expected to last till March of next year.

The talks have lasted longer than expected due to supervisory and management issues, the report said. Hon Hai meanwhile declined to comment on the report.

Sharp at the end of September received a loan of 180 billion yen and a 180 billion yen credit line from Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ.

Terry Gou, chairman of Hon Hai, said in an August TV interview that Sharp had offered Hon Hai the right to get a 9.98-percent stake in the company at a price that could be renegotiated. Gou also expressed the hope that the stake purchase could be completed by March 31, 2013.

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