Samsung is in talk with Sharp to takeover a whopping 3 percent in the consumer electronics firm. With this Samsung will invest some 10 billion yen ($107 million) in Sharp.
A Sharp spokesman in Tokyo did not confirm or deny the Samsung investment plan. “This news is not something that has been announced by the company,” he said.
Sharp received a $4.4 billion bailout from banks last October but had to mortgage its offices and factories in Japan to secure the loans. It also pledged to trim its workforce by 10,000 people and sell off assets.