The Mainichi Shimbun reported that Sharp was in talks with Intel over a possible capital tie-up in which the U.S. side could invest more than $383 million. The two companies hope to reach an agreement possibly by the end of October, the daily said without naming its sources.
Shares in Sharp (IW 1000/115) jumped Friday on a report the embattled electronics maker may get a cash injection of more than $380 million from U.S. chip giant Intel (IW 500/26).
The Japanese firm surged 8.42% to 219 yen at one point in the morning before easing back slightly to end the morning session up 5.13% at 213 yen on the Tokyo Stock Exchange, despite official denials from the company.
The Mainichi Shimbun reported that Sharp was in talks with Intel over a possible capital tie-up in which the U.S. side could invest more than $383 million.
The two companies hope to reach an agreement possibly by the end of October, the daily said without naming its sources.
Intel is keen on making use of Sharp's technology to produce small and medium-sized liquid crystal display panels while Sharp could get much needed cash through a tie-up, the paper said.
