Qualcomm to Postpone New Share Issuance to Sharp
March 17 2013 - 7:20PM
Dow Jones News
TOKYO--Sharp Corp. (6753.TO) said Monday that a second equity
investment by Qualcomm Inc. (QCOM) will not take place by the end
of March as planned, since the two sides have yet to agree on terms
in ongoing talks.
The struggling Japanese electronics giant announced on Dec. 4
that it had reached an agreement for an equity investment of up to
Y9.9 billion from Qualcomm in a deal envisaging cooperation on
displays using a new Sharp liquid-crystal-display technology and
Qualcomm's emerging low-power-display technology.
The first round of the new share issuance was completed at the
end of December, and was worth Y4.9 billion.
Sharp had announced that the second round would take place by
the end of the current fiscal year, but said it is no longer
possible to make the March 29 deadline.
Write to Tokyo Bureau at tokyo.djnews@dowjones.com
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