, Columnist
Beijing’s Foxconn Embrace Has Tinge of Desperation
By having state firms buy into the IPO, it’s hoping some Taiwan technology fairy dust will rub off.
Chinese state firms want some of Foxconn founder Terry Gou’s high-tech fairy dust.
Photographer: VCG/Visual China Group/Getty Images
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Just look at that list of investors in Foxconn Industrial Internet Co.’s IPO.
Forget BAT. It was obvious that Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. would take minor stakes in the Foxconn Technology Group affiliate’s blockbuster Shanghai listing. Those three are in the bottom tier of cornerstone buyers anyway.