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Sharp shares up more than 10 percent after Foxconn completes stake purchase


TOKYO (Reuters) - Shares of Sharp Corp <6753.T> soared more than 10 percent in early trade on Monday after the company said that Taiwan's Foxconn <2317.TW> completed its takeover.

Sharp on Friday said that Foxconn completed the 388.8 billion yen ($3.84 billion) purchase, bringing Foxconn's stake to 66.07 percent

Sharp jumped as high as 17 percent to 124 yen, the highest since June 24.

($1 = 101.2700 yen)


(Reporting by Ayai Tomisawa; Editing by Stephen Coates)