TAIPEI - Taiwan's government said on Saturday it would fine Foxconn , the world's largest contract electronics maker, for an unauthorised investment in a Chinese chip maker even after the Taiwanese firm said it would be selling the stake.
Late Friday, Foxconn said in a filing to the Taipei stock exchange its subsidiary in China had agreed to sell its entire equity stake in Tsinghua Unigroup. In a statement on Saturday before the economy ministry's, Foxconn said as the year-end approached the original investment had "remained unfinalised".
"In order to avoid uncertainties from further delays or impact to investment planning and the flexible deployment of capital, the Xingwei Fund will transfer its entire holding in Shengyue Guangzhou to Yantai Haixiu," it said.