Ailing electronics giant Sharp Corp. plans to terminate stalled capital tieup talks with Taiwanese business partner Hon Hai Precision Industry Co. and will prioritize alliance negotiations with another firm, sources revealed.
Sharp has concluded that the possibility is low of reaching an accord in the near future with Hon Hai, also known as Foxconn, as it is taking time to complete the necessary procedures with Taiwanese authorities, the sources said Friday.
The deadline for forming the capital alliance between the two companies is March 26.