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Samsung throws Sharp a lifeline

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Samsung throws Sharp a lifeline

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South Korea’s Samsung is buying a three percent stake in troubled Japanese electronics firm Sharp, which had to be bailed out by its banks last October.

That is costing the equivalent of just 84 million euros, which is an indication of how strapped for cash Sharp is.

The deal gives Samsung a broader supplier base, access to low-power thin screen technology and means it get a foot in the door at a key Asian display supplier to its rival Apple.

Sharp’s shares jumped on news of the lifeline.