Toshiba aims to complete USD 19 bn of memory chip unit sale soon

Toshiba Corp said on Monday it is still aiming to complete the sale of its memory chip business soon.

Toshiba Corp said on Monday it is still aiming to complete the sale of its memory chip business soon, following media reports it had decided to cancel the USD 18.6 billion sale if it did not get approval from Chinese regulators by May.

We had earlier reported that Toshiba Corp has decided it will cancel the planned USD 18.6 billion (13.28 billion pounds) sale of its memory chip unit if it does not get approval from China's anti-monopoly regulator by May.

Toshiba was unable to complete the sale by the agreed deadline of March 31 as it was still waiting for approval from China's antitrust authorities.

(With inputs from Reuters)

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