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Toshiba in talks to sell chip business stake to Western Digital

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Toshiba considers selling stake in its semiconductor business to Western Digital

Toshiba considers selling stake in its semiconductor business to Western Digital*/

– (Reuters) — Toshiba Corp is looking to sell a minority stake in its core semiconductor business to Western Digital Corp, a source said, in a bid to dull the blow from a looming multi-billion-dollar writedown on a U.S. nuclear acquisition.The laptops-to-engineering conglomerate, still recovering from a $1.3 billion accounting scandal, shocked investors last month by announcing cost overruns at a U.S. nuclear business it bought in 2015 which could now mean a charge against profit topping $4 billion.Toshiba does not have many options to offset the impact of this writedown that could wipe out its shareholders’ equity.
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Toshiba may sell chip business stake to Western Digital – Toshiba Corp. ADR (OTCMKTS:TOSYY)

Toshiba may sell chip business stake to Western Digital - Toshiba Corp. ADR (OTCMKTS:TOSYY)*/

– Looking to boost its capital base, Toshiba (OTCPK:TOSYY) is in talks to sell a minority stake of its flash memory business to Western Digital (NYSE:WDC) following a $1.3B accounting scandal and looming multi-billion-dollar writedown.The company had been considering various options for its core semiconductor unit, including a spinoff, but nothing concrete has yet been decided.
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Toshiba to consider spin-off of chip-making business stake to Western Digital

Toshiba to consider spin-off of chip-making business stake to Western Digital*/

– 5 SOCIAL BUZZ WhatsappTOSHIBA, one of Japan’s biggest multinational conglomerate corporations, is reportedly in talks with Western Digital Corp. to spin off its semiconductor business assets at a roughly 20 percent stake, which will cost the latter up to US$2.7 billion.According to the Asian Nikkei Review, which cited sources familiar with the matter, there are some U.S. investment funds that have also expressed interest in Toshiba’s stake.In a statement, Toshiba said it had indeed been considering several options, including a spin-off, but has not confirmed any decisions.
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Toshiba in talks to sell chip business stake to Western Digital

Toshiba in talks to sell chip business stake to Western Digital*/

– Pedestrians walk past a logo of Toshiba Corp outside an electronics retailer in Tokyo September 14, 2015.REUTERS/Toru Hanai/File PhotoTOKYO (Reuters) – Toshiba Corp is in talks to sell a minority stake in its flash memory business to U.S. chips business partner Western Digital Corp in a bid to boost its capital base, a source briefed on the discussions said on Wednesday.Toshiba said in a statement earlier that it had been considering various options for its memory business, including a spin-off, but that nothing concrete had been decided.
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