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Turkey's Vestel in talks to buy Toshiba television unit -official
April 10, 2017 / 6:54 AM / 8 months ago

Turkey's Vestel in talks to buy Toshiba television unit -official

ISTANBUL, April 10 (Reuters) - Turkey’s Vestel is in talks to buy the television unit of Japan’s Toshiba Corp , an official for the Turkish maker of electronics and home appliances said on Monday, declining to be identified.

Vestel last year signed a five-year agreement with Toshiba, giving it the right to produce and sell televisions under the Toshiba brand in Europe.

Toshiba, a televisions-to-construction conglomerate expects to book a net loss of about $9 billion for the year that ended in March, due to a writedown related to cost overruns at its U.S. nuclear unit Westinghouse that recently went bankrupt. (Reporting by Ceyda Caglayan; Writing by David Dolan; Editing by Daren Butler)

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