Sharp (SHCAF.PK) President Takashi Okuda has told Nikkei that he's ready to sell a 9.9% stake in...

|About: Sharp Corp. (SHCAF)|By:, SA News Editor

Sharp (SHCAF.PK) President Takashi Okuda has told Nikkei that he's ready to sell a 9.9% stake in the troubled company to Hon Hai Precision Industry at a lower price than the ¥550 ($7.02) initially agreed to in March, since when Sharp's stock has plummeted. With Sharp relying on creditor banks to refinance billions of dollars in debt, Okuda hopes to complete a deal sharpish.