19/12/2014 05:48:51 Free Membership Login

Sharp Says No Current Talks With Intel

Date : 01/07/2013 @ 4:30PM
Source : Dow Jones News
Stock : Intel Corp. (MM) (INTC)
Quote : 37.0274  0.0 (0.00%) @ 5:19AM
Intel share price Chart

Sharp Says No Current Talks With Intel

Intel (NASDAQ:INTC)
Historical Stock Chart

2 Years : From Dec 2012 to Dec 2014

Click Here for more Intel Charts.

LAS VEGAS--A Sharp Corp. (6753.TO, SHCAY) executive said Monday there are no current talks with Intel Corp. (INTC) on a possible capital injection, with a deal looking increasingly unlikely after the struggling Japanese electronics maker agreed last month to an investment from Qualcomm Inc. (QCOM).

In a briefing with reporters, Kozo Takahashi, executive vice president overseeing Sharp's international operations, said the company is leaving all options open for ways to bolster its severely weakened balance sheet. It isn't limiting potential partnerships to new share issuances or convertible bonds, the company said.

In November, The Wall Street Journal reported Sharp was in talks with Intel, Dell Inc. (DELL) and Qualcomm about a capital injection. After announcing its deal to receive as much as 9.9 billion yen ($113 million) in additional capital from Qualcomm, Sharp said talks with Intel fizzled out.

"It's probably best to say that there are no current talks. There was a greater possibility of something happening a few months ago," Mr. Takahashi said after the company's presentation at the Consumer Electronics Show in Las Vegas.

Sharp badly needs additional capital. Sharp has forecast a second-straight year of record losses and is burning through cash. Its credit rating has been lowered to junk status, that is, below investment grade. And it has sold off assets such as overseas television factories to raise money.

Write to Daisuke Wakabayashi at daisuke.wakabayashi@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 us 141219 05:48