Qualcomm’s Sharp Second-Half Investment Delayed

Posted on Mar 18 2013 - 2:14pm by Editorial Staff

Sharp Corporation

Qualcomm did agreed on to invest in the struggling Japanese electronics company Sharp with investing its first instalment of $60 million (half of total $120 million investment) but now it seems like the deal is not staggering as the second half of investment which is due by the end of March as originally planned is delayed. The deal is meant for both the companies working together on MEMS display technology.

Sharp explains the fact which states what makes the deal staggering:

[Sharp] will not be able to receive the subscription payment on March 29, the expected subscription payment date, due to certain procedures required under the Companies Act since the discussion on the fulfillment of the conditions precedent to the implementation of the Second Third Party Allotment Capital Increase is still being continued.

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