Taiwanese authorities have urged Hon Hai Precision Industry Co. to provide details on its plans to tie up with Sharp Corp. and sent its application for approval back to the company, a Taiwanese official said Thursday.
There is concern that Hon Hai shareholders could sustain losses if Sharp's stock keeps falling. The authorities want Hon Hai to provide detailed explanations about the returns it expects from the investment, the official said.
Hon Hai, better known internationally under its trading name Foxconn, supplies crucial parts to Apple Inc. and other electronics makers.