TAIWAN: Want Want justifies hospital JV after shares plummet
Taiwanese snack food giant Want Want Holdings found itself having to justify its diversification strategy earlier today [Thursday] as the market responded badly to news of the group's plans to jointly build a hospital in China's Changsha city. After the joint venture, with a local partner, was announced on Wednesday, Want Want shares made their largest one-day fall for four years as investors sold the stock fearing that the initial capital expenditure of TWD$28m (US$0.8m) and the promise of a further TWD$28m will dampen the firm's earnings.
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