TOKYO (dpa-AFX) - Toshiba corp. (TOSYY.PK, TOSBF.PK) said that it still intends to compete sale of its memory chips business as soon as possible, and has not decided any concrete policy for the alternative, including termination of the transaction under certain circumstances.
Earlier, there were reports that 'Toshiba is considering cancellation of the chip unit sale if it is not approved by China's anti-monopoly regulator; and that if approval from China's anti-monopoly regulator is not received by the end of May, the parties to the deal will consider revising certain of the conditions and resubmit the application to the Chinese authority.'
There was also a report stating that the due date of the final decision by China's antitrust authority is May 28, 2018. This date was not announced by the company, Toshiba said.
The Japanese electronics conglomerate agreed last September to sell Toshiba Memory for 2 trillion yen or about $18.5 billion to a consortium led by American private-equity fund Bain Capital.
Copyright RTT News/dpa-AFX