July 11, 2017 / 9:53 AM / a year ago

Toshiba talking with Western Digital, Foxconn about chip unit sale -sources

TOKYO, July 11 (Reuters) - Toshiba Corp told its creditor banks it is in talks with Western Digital Corp and Taiwan’s Foxconn over the $18 billion sale of its prized chip unit, banking sources familiar with the matter said on Tuesday.

Late last month, Toshiba picked a Japanese government-backed consortium as preferred bidder to buy the conglomerate’s semiconductor business, but they have yet to reach an agreement.

The group includes the state-backed fund Innovation Network Corp of Japan, the Development Bank of Japan, U.S. private equity firm Bain Capital and South Korean chipmaker SK Hynix Inc .

Foxconn, the world’s largest contract electronics maker, is formally known as Hon Hai Precision Industry.

A representative for Toshiba was not immediately available to comment.

Reporting by Taro Fuse; Writing by Taiga Uranaka; Editing by Edwina Gibbs

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below