Hon Hai Precision Industry’s chairman is demanding a management role at Sharp as part of an equity tie-up, stepping up the pressure on the Japanese TV maker to give him greater influence in the company in return for badly needed cash.
Debt-saddled Sharp has been in talks on a partnership that would give the Taiwanese company a 9.9 percent stake in the century-old Japanese firm. Hon Hai’s Chairman Terry Gou visited Japan last week but unexpectedly left before a scheduled meeting with Sharp executives, fuelling uncertainty over the tie-up.
"If it was just a capital investment, why would I want it?" Gou told Taiwan’s United Evening News in an interview. "I’m not a venture capitalist."
(Source: CNBC)