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S&T CEO says full takeover by Foxconn possible: magazine
December 7, 2016 / 10:49 AM / a year ago

S&T CEO says full takeover by Foxconn possible: magazine

FRANKFURT (Reuters) - Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, could take over Austrian IT group S&T AG, S&T’s chief executive told a German magazine.

The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in New Taipei City, Taiwan March 29, 2016. REUTERS/Tyrone Siu/File Photo

“If we develop poorly and our share price falls significantly I expect that Foxconn will do a full takeover,” weekly magazine WirtschaftsWoche quoted Hannes Niederhauser as saying in an interview in its BoersenWoche newsletter.

Foxconn unit Ennoconn raised its holding in S&T to 29.4 percent in a capital increase in October.

Reporting by Maria Sheahan; Editing by Christoph Steitz

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