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Western Digital seeks Y50 billion from Apple to help finance Toshiba chip bid - Kyodo

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Western Digital seeks Y50 billion from Apple to help finance Toshiba chip bid - Kyodo

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TOKYO (Reuters) – A group including Western Digital is seeking around 50 billion yen (353.3 million pounds) from Apple Inc to help finance a bid for Toshiba Corp’s memory chip unit, Kyodo news agency reported on Friday. Western Digital, which jointly invests in Toshiba’s key chip plant, is leading a $17-18 billion bid for the chip business, sources have said. The sources said earlier in the week that the U.S. firm offered to step back from the consortium’s financing in return for a stronger position in their joint venture. A Western Digital spokeswoman said it could not comment on details of the talks.

(Reporting by Makiko Yamazaki and Ritsuko Ando; Editing by Shri Navaratnam)
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