Taiwan's Foxconn to take two-thirds stake in Sharp for $3.5 billion

By Reuters
March 31,2016
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Hon Hai's Vice President Tai Jeng-wu attends a news conference to announce the company's agreement to acquire Sharp Corp in Taipei, Taiwan March 30, 2016. REUTERS/Tyrone Siu

TOKYO (Reuters) - Japan's Sharp Corp said on Wednesday that Taiwan's Foxconn will pay 389 billion yen ($3.5 billion) for a two-thirds stake, about 100 billion yen less than initially planned.

($1 = 112.1300 yen)

(Reporting by Chang-Ran Kim and Chris Gallagher; Editing by Edwina Gibbs)