$QCOM Helps to Save Sharp from Bankruptcy With a $61 Million Cash Infusion

“Sharp Corp. (6753), the Japanese TV maker that warned last month about its ability to survive, agreed to sell a stake in itself to Qualcomm Inc. (QCOM) and team up with the U.S. company to make displays, two people familiar with the plan said.

Sharp plans to make an announcement today on the agreement, which includes selling 5 billion yen ($61 million) of new shares to the San Diego-based chipmaker this year, one of the people said, asking not to be named because the plan hasn’t been made public. That would give Qualcomm a 2.6 percent stake in Sharp, based on its 191 billion yen market value yesterday.”

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