Sharp, Foxconn extend deal talks deadline up to two weeks: source

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TOKYO (Reuters) - Japan's Sharp Corp 6753.T and Taiwan's Foxconn agreed on Friday to extend a deadline for takeover talks by one or two weeks beyond Monday's planned expiry, a person familiar with the matter said.

Foxconn, a major supplier to Apple Inc AAPL.O and known formally as Hon Hai Precision Industry Co 2317.TW, has been Sharp's preferred candidate for a rescue deal.

Sharp on Thursday announced it had decided to sell a two-thirds stake to Foxconn, but the Taiwanese firm put the deal on hold until it could clarify what it called “new material information” from Sharp.

Sources said the last-minute hitch was due to previously undisclosed liabilities at Sharp.

Reporting by Taro Fuse; writing by William Mallard; editing by David Clarke and Ian Geoghegan