- A new twist in the ongoing drama around Toshiba's chip business: Apple (NASDAQ:AAPL) is considering teaming up with its supplier Foxconn (OTC:FXCOF) to bid for Toshiba's (OTCPK:TOSBF, OTCPK:TOSYY) semiconductor business, Japanese public broadcaster NHK reported on Friday.
- Apple could invest at least several billion dollars to take a stake of more than 20% percent as part of a plan that would have Toshiba keep a partial holding so the business remains under U.S. and Japanese control, sources say, thereby sidestepping government concerns about any transfer of sensitive technology to investors it deems a potential risk to national security.
- Other reports say Apple is considering a range of options, including partnering with Hon Hai (OTC:HNHAF), to a possible partnership with SoftBank (OTCPK:SFTBF).
- Sources say Toshiba has narrowed the field of bidders for its chip unit to four, Broadcom (NASDAQ:AVGO) in partnership with Silver Lake Partners; SK Hynix (OTC:HXSCF); Western Digital (NYSE:WDC); and Foxconn.
- Shares in Toshiba fell as much as 8.1% Friday in Tokyo amid reports it had suspended the auction due to WDC's attempts to block it.
- Toshiba is the world's second-biggest flash memory chipmaker.
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