CHENNAI (Reuters) - A decision by Taiwan's Foxconn to withdraw from a $19.5 billion semiconductor joint venture with Vedanta is a "credit negative" for the Indian conglomerate's UK parent Vedanta Resources, debt research firm CreditSights said on Thursday.
Earlier this week, Foxconn said it had withdrawn from the JV, dumping a deal they had signed last year to set up semiconductor and display production plants in India. Vedanta on Wednesday said it would still enter the space this year having lined up partners.
Already a subscriber? Log in
Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
