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Taiwan happy with Foxconn's $3.5 billion acquisition of Sharp

Staff writer |
Taiwanese regulators have cleared Foxconn's $3.5 billion acquisition of Sharp, paving the way for the world's largest electronics manufacture to begin the task of trying to turn around the Japanese display maker.

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Taiwan's Fair Trade Commission said there was no anti-trust issue with the purchase. The green light came the day after the economics ministry's Investment Commission, in charge of reviewing and approving inbound and outbound investments, signaled its approval for the deal.

Foxconn, formally known as Hon Hai Precision Industry, is investing a total of 388.8 billion yen ($3.54 billion) to take a 63.64 percent stake in Sharp, according to the Investment Commission's statement on its approval.

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