Foxconn to buy all 200 bln yen preferred shares from Sharp's creditor banks

March 30, 2016 9:42 AM

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TOKYO, March 30 Taiwan's Foxconn plans to buy all 200 billion yen ($1.78 billion) worth of the preferred shares owned by Sharp Corp's two major creditor banks, a source familiar with the matter said on Wednesday.

Foxconn, formally known as Hon Hai Precision Industry Co , plans to complete the purchase by June 2019, the source told Reuters.

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