Big bids for Toshiba chip stake

|About: Toshiba Corp. ADR (TOSYY)|By:, SA News Editor

Toshiba (OTCPK:TOSYY) has received bids ranging from ¥200B to as much as ¥400B ($1.8B-$3.6B) for a 19.9% stake in its flash memory business, Reuters reports.

A sale at that price would help Toshiba offset a multi-billion dollar writedown on its U.S. nuclear power business, which investors worry could wipe out shareholder equity.

Previously: Toshiba courts funds for chip stake (Feb. 07 2017)