Sharp, Foxconn pushing to close rescue deal after a month of delays
Banks ready to extend deadline for most of Sharp's 510b yen loans and credit lines beyond March 31
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Tokyo
SHARP Corp and Foxconn Technology Group said that they are pushing to close the rescue deal for the Japanese manufacturer that has been held up by disagreement for more than a month.
Hon Hai Precision Industry Co, Foxconn's flagship company, said on Sunday that it will hold a board meeting on March 30 as scheduled, where it may discuss the Sharp deal depending on the stage of negotiations, according to a statement to the Taiwan stock exchange. Sharp said on March 28 that it aims to reach the agreement as soon as possible, and will promptly make information public if it reaches a decision requiring disclosure.
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