Sharp Shares Rise After Report on Intel Stake Sale: Tokyo Mover
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Sharp Corp., Japan’s largest maker of liquid-crystal displays, rose the most in more than two months in Tokyo trading after Kyodo News said the company is in final talks to sell a stake to Intel Corp.
The shares jumped as much as 11 percent to 168 yen, headed for the biggest gain since Sept. 4, and traded at 163 yen as of 9:56 a.m. It was the largest percentage increase in Japan’s benchmark Nikkei 225 Stock Average, which added 0.1 percent. Sharp is in final talks with Intel to get an investment of 30 billion yen ($377 million) to 40 billion yen, which would make the world’s biggest chipmaker its top shareholder, Kyodo reported late yesterday, without citing anyone.